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
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.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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