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Blume Family Acquires Multifamily Property From Meerendonk Family In Brooklyn For $1.8M

Property Image
SOLD
$1,800,000

New York

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MultiFamily4,485 SF
Sold 02/05/2025
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Property Image
SOLD

Blume Family Acquires Multifamily Property From Meerendonk Family In Brooklyn For $1.8M

429 431 Columbia Street

See Similar Deals
MultiFamily4,485 SF
Sold 02/05/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$401
Total Square Footage:4,485 SF
Transaction Type:Sale

The property asset involved in the transaction is a multifamily building located at 429-431 Columbia Street in Brooklyn, having a sale price of $1,800,000. The total square footage of the property is 4,485, which translates to a price per square foot of $401.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,800,000
  • Address: 429-431 Columbia Street
  • Market: Brooklyn
  • Square Footage: 4,485
  • Price per Square Foot: $401
  • Buyer: Blume family
  • Seller: Meerendonk family
  • Broker: Joshua Pomerantz - SP Capital Group

Joshua Pomerantz represented both the buyer and the seller in this transaction. He facilitated the deal, ensuring the property was delivered vacant at closing. This represents the sixth closed transaction for SP Capital Group in the past eight weeks.

Players

Joshua "Josh" Pomerantz
SP Capital Group
Joshua Pomerantz
31 deals$142.6M volume(212) 235-2764
BROKER

Details

SOLD
IMAGE: Joshua Pomerantz DATE: 02/05/2025 ADDRESS: 429-431 Columbia Street MARKET: Brooklyn ASSET TYPE: Multifamily BUYER: Blume family SELLER: Meerendonk family BROKER: Joshua Pomerantz (@Pomdiggz) - SP Capital Group (@SPCapitalGroup) SALE PRICE: $1,800,000 SF: 4,485 ~ PPSF: $401 NOTE FROM BROKER: @SP Capital Group is proud to present the 6th closed transaction in the past 8 weeks. Josh Pomerantz represented both sides of the transaction and was able to deliver the property vacant at closing. For more vacant buildings in the 5 Boroughs, please reach out to Josh directly: [email protected] (212) 242-5509

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$96,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02