Sterling Group Acquires Multifamily Property On 19th Street, South Slope, Brooklyn For $1.6M

The multifamily property located at 276 19th Street in Brooklyn, South Slope has been sold in a closed transaction. The property spans 3,600 square feet and was purchased for a sale price of $1,600,000. With an asking price of $1,800,000, the property was sold at a 2.48% capitalization rate and a Gross Rent Multiplier (GRM) of 21.49. The price per square foot (PPSF) for the property is $444.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $1,600,000
• Market: Brooklyn, South Slope
• Seller: Nicholas Sansano
• Buyer: Sterling Group – Sol Greenberg
• Brokers: Nowak & Partners of Marcus and Millichap – Jesse Kay

The sale of this multifamily property involved key individuals and companies in the real estate market. Nowak & Partners, representing the buyer and seller, facilitated the transaction. Nicholas Sansano acted as the seller, while Sterling Group, led by Sol Greenberg, purchased the property.