Sugar Hill Capital Partners Acquires Brooklyn Multifamily For $2.6M
SOLD
$2,600,000
+ 2
New York
See Similar DealsMultiFamily6,160 SF
Sold 11/14/2018
SOLD
Sugar Hill Capital Partners Acquires Brooklyn Multifamily For $2.6M
285 MacDonough Street, Brooklyn, NY 11233
See Similar DealsMultiFamily6,160 SF
Sold 11/14/2018
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$422
Total Square Footage:6,160 SF
Transaction Type:Sale
The multifamily property located at 285 MacDonough St in Brooklyn was recently sold for a price of $2,600,000. The transaction took place on November 14, 2018.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,600,000
- Seller: Eden Ashourzadeh and Alex Kahen - Ink Property Group
- Buyer: Sugar Hill Capital Partners
- Brokers: Sean Riney, Daniel Greenblatt & Will Grover - Marcus and Millichap
The sale of this property was facilitated by the brokers, Sean Riney, Daniel Greenblatt, and Will Grover from Marcus and Millichap, representing the sellers, Eden Ashourzadeh and Alex Kahen of Ink Property Group. The buyers, Sugar Hill Capital Partners, acquired the multifamily asset at 285 MacDonough St in Brooklyn.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$138,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92
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