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284 Sumpter Street

NH Property Group Acquires Multifamily Building In Ocean Hill, Brooklyn For $1.4M
SOLDMultiFamily

NH Property Group Acquires Multifamily Building In Ocean Hill, Brooklyn For $1.4M

284 Sumpter Street

$1,400,000

$330/SF

Building Size

4,232 SF

Asset Type

MultiFamily

Closing

Jul 15, 2024

AI

The property involved in this transaction is a multifamily building located at 284 Sumpter Street in Ocean Hill, Brooklyn. The sale was completed for $1,400,000. This fully vacant 6-family building features a total area of 4,232 square feet and is 33.58 feet wide. Additionally, the property has 3,155 square feet of air rights and the price per unit stands at $233,333, with a price per square foot of $331.

Summary of transaction details:

Baruch Edelkopf and Joseph Rosenfeld of Schuckman Realty managed the marketing process for this exclusive listing, resulting in nine competing offers for the property. Schuckman Realty Inc. has expressed their readiness to assist those looking to buy or sell similar buildings.

Players

Joseph Rosenfeld

Beacon Investment Sales & Advisory

Broker

$63.3M

vol

15 deals

Broker

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93