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299 Throop Avenue

Northgate Real Estate Group Sells Multifamily Building At 299 Throop Avenue Brooklyn For $2.99M
SOLDMultiFamily

Northgate Real Estate Group Sells Multifamily Building At 299 Throop Avenue Brooklyn For $2.99M

299 Throop Avenue

$2,990,867

$585/SF

Building Size

5,109 SF

Asset Type

MultiFamily

Closing

Sep 9, 2025

AI

The property involved in this transaction is a 3-story multifamily building located at 299 Throop Avenue in Brooklyn. The building has a sale price of $2,990,867 and encompasses a total square footage of 5,109, resulting in a price per square foot of $585.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,990,867
  • Square Footage: 5,109
  • Price Per Square Foot: $585
  • Address: 299 Throop Avenue
  • Market: Brooklyn

The brokers representing the transaction are Greg Corbin and Felix Ades from Northgate Real Estate Group, who sold the building through a bankruptcy sale.

Players

Greg Corbin

Northgate Real Estate Group

Broker

$1.2B

vol

84 deals

Broker
Northgate Real Estate Group
Northgate Real Estate GroupBrokerage

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

5.30%

Cash-on-Cash

-1.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93