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389 Sumpter Street

Updated Dec 4, 2024

Joseph Jerbi Sells Multifamily Property In Ocean Hill, Brooklyn For $3,206,458
SOLDMultiFamily

Joseph Jerbi Sells Multifamily Property In Ocean Hill, Brooklyn For $3,206,458

389 Sumpter Street

$3,206,458

$583/SF

Building Size

5,500 SF

Asset Type

MultiFamily

Closing

Feb 12, 2024

About this deal

AI

The multifamily property located at 389 Sumpter Street in Ocean Hill, Brooklyn, was sold for $3,206,458. The property comprises 8 units with a total square footage of 5,500, resulting in a price per unit of $400,807 and a price per square foot of $583.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,206,458
  • Address: 389 Sumpter Street
  • Market: Ocean Hill, Brooklyn
  • Units: 8
  • Square Footage: 5,500
  • Price per Unit: $400,807
  • Price per Square Foot: $583

Ari Harkov from Brown Harris Stevens represented the buyer, Joseph Jerbi, in the transaction, while Dani Ohayon and Tomer Shmuel from Oxford Property Group served as the seller's representatives. The collaboration of these individuals played a crucial role in facilitating the successful sale of the property at 389 Sumpter Street.

On the Map

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$3,206,458

$583/SF

MultiFamily

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Players

Ari Harkov

Brown Harris Stevens

Broker

$429.1M

vol

86 deals

Broker
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Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $583 per square foot on a published $3.2M for 5,500 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.95%

Cash-on-Cash

-1.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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