Blue Flag Capital Acquires Multifamily Asset In Sag Harbor For $5.7M With HREA And Compass
58 Howard Street
$5,700,000
$828/SF
Building Size
6,880 SF
Asset Type
MultiFamily
Closing
Jun 8, 2025
AI
This multifamily asset is located at 58 Howard Street in Sag Harbor. The sale was finalized at a price of $5,700,000, comprising 7 units with an average price per unit of $814,285. The total square footage of the property is 6,880, resulting in a price per square foot of $828.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,700,000
- Units: 7
- Average Price Per Unit: $814,285
- Total Square Footage: 6,880
- Price Per Square Foot: $828
- Buyer: Blue Flag Capital
- Seller: Jason Breitstone & David Shorenstein - Hildreth Real Estate Advisors; Thanassis Chysas & Scott Maslin - Woodglen Investments
- Broker: Hal Zwick & Jeff Sztorc - Hamptons Commercial RE Team at Compass
Hal Zwick and Jeff Sztorc, representing the buyers, played a significant role in successfully completing the transaction. The seller, Hildreth Real Estate Advisors, and Woodglen Investments are actively seeking new commercial properties across the Tri-state area.
Players
Sag Harbor 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
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93