Sterling Group Acquires Multifamily Property On 19th Street, South Slope, Brooklyn For $1.6M
SOLD
$1,600,000
New York
See Similar DealsMultiFamily3,600 SF
Sold 08/22/2019
SOLD
Sterling Group Acquires Multifamily Property On 19th Street, South Slope, Brooklyn For $1.6M
276 19th St, Brooklyn, NY 11215, USA
See Similar DealsMultiFamily3,600 SF
Sold 08/22/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$444
Total Square Footage:3,600 SF
Transaction Type:Sale
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.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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