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
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