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38 3rd Street

Carlyle Group Acquires Multifamily Property In Carroll Gardens, Brooklyn For $6.9M
SOLDMultiFamily

Carlyle Group Acquires Multifamily Property In Carroll Gardens, Brooklyn For $6.9M

38 3rd Street

$6,900,000

$1,030/SF

Building Size

6,696 SF

Asset Type

MultiFamily

Closing

Jan 12, 2024

AI

The multifamily property located at 38 3rd Street in Carroll Gardens, Brooklyn, was sold in a transaction for $6.9 million. The eight-unit residential walkup building spans 6,696 square feet, resulting in a price per square foot of $1,030. The deal was between Carter Martin of Carlyle Group, representing Townhouse Rental, L.L.C., as the buyer, and Gregory Fournier of Greenbrook Partners as the seller.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,900,000
  • Address: 38 3rd Street
  • Market: Carroll Gardens, Brooklyn
  • Buyer: Carter Martin - Carlyle Group
  • Seller: Gregory Fournier - Greenbrook Partners
  • Units: 8
  • Price per Unit: $862,500
  • Square Footage: 6,696
  • Price per Square Foot: $1,030

Carlyle Group acquired the property through Townhouse Rental, L.L.C., with Greenbrook Partners retaining a partnership interest in the deal. Carter Martin, representing Carlyle Group, facilitated the purchase of the eight-unit residential building from Gregory Fournier, the seller from Greenbrook Partners.

Players

Carter Martin

Carlyle Group

Buyer

$146M

vol

28 deals

Buyer

Greg Fournier

Greenbrook Partners

Seller

$607.1M

vol

19 deals

Seller

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

2.30%

Cash-on-Cash

-0.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93