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268 Henry Street, Brooklyn,...

Derby Copeland Capital Acquires Multifamily Property In Brooklyn Heights For $4.95M
SOLDMultiFamily

Derby Copeland Capital Acquires Multifamily Property In Brooklyn Heights For $4.95M

268 Henry Street, Brooklyn, New York 11201, United States

$4,950,000

$825/SF

Building Size

6,000 SF

Asset Type

MultiFamily

Closing

May 11, 2022

AI

Located in the sought-after Brooklyn Heights neighborhood, a predominantly free market Tax Class 2B asset has been sold at 268 Henry Street. The multifamily building, situated between Joralemon Street and State Street, offers a total of 10 units spread across approximately 6,000 square feet of space. The sale price for this property was $4,950,000, resulting in a price per unit of $495,000. With a price per square foot of $825, this transaction highlights the value of the property in the Brooklyn Heights market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,950,000
  • Address: 268 Henry Street
  • Market: Brooklyn Heights

The buyer of 268 Henry Street is Derby Copeland Capital, while Sugar Hill Capital Partners acted as the seller. Facilitating the transaction were Adam J. Hess and Edward Setton from Meridian Capital Group, who represented the parties involved. This marks the third successful multifamily sale for TeamHessBk in the Brooklyn Heights area, where sales of multifamily buildings are infrequent. For further information or similar opportunities in the Brooklyn market, interested parties may contact Adam or Eddie at [email protected] or [email protected].

Players

Edward Setton

Sterling Property Group NY

Broker

$251.4M

vol

55 deals

Broker
Meridian Capital Group
Meridian Capital GroupBrokerage

Derby Copeland Capital

Buyer

$58.3M

vol

13 deals

Buyer
Sugar Hill Capital Partners
Sugar Hill Capital PartnersSeller
BridgeCity Capital
BridgeCity CapitalLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.20%

Cash-on-Cash

-0.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93