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Elliot Horowitz Of H Equities And Morris A. Sutton Acquire Mixed-Use Property For $3.9M

Property Image
SOLD
$3,900,000

New York

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MultiFamily4,563 SF
Sold 02/28/2025
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Property Image
SOLD

Elliot Horowitz Of H Equities And Morris A. Sutton Acquire Mixed-Use Property For $3.9M

654 Manhattan Avenue

See Similar Deals
MultiFamily4,563 SF
Sold 02/28/2025
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$854
Total Square Footage:4,563 SF
Transaction Type:Sale

654 Manhattan Avenue is a mixed-use property located in Greenpoint, Brooklyn. This asset encompasses a total of 4,563 square feet and was sold for $3,900,000, translating to a price per square foot of $854.

Summary of transaction details:

  • Property Type: Mixed-Use
  • Transaction Amount: $3,900,000
  • Address: 654 Manhattan Avenue
  • Market: Brooklyn
  • Square Footage: 4,563
  • Price per Square Foot: $854
  • Buyer: Elliot Horowitz - H Equities & Morris A. Sutton
  • Seller: The Veneziano Family

Elliot Horowitz is the Chief Executive Officer of H Equities, which has partnered with Morris A. Sutton for this acquisition. This transaction marks H Equities' third acquisition in northern Brooklyn over the past seven months, indicating a focused investment strategy in strong retail and residential corridors. The company is also actively seeking additional mixed-use properties and financing opportunities in the market.

Players

Elliot Horowitz
H Equities
Elliot Horowitz
8 deals$83.3M volume
BUYER
H Equities
H Equities
BUYER

Details

SOLD
IMAGE: Elliot Horowitz & Morris A. Sutton DATE: 02/28/2025 ADDRESS: 654 Manhattan Avenue MARKET: Brooklyn ASSET TYPE: Mixed-Use BUYER: Elliot Horowitz - (@HEquities) - H Equities & Morris A. Sutton SELLER: The Veneziano Family SALE PRICE: $3,900,000 SF: 4,563 ~ PPSF: $854 NOTE: H Equities, in partnership with Morris A. Sutton, is pleased to announce the recent acquisition of 654 Manhattan Avenue in Greenpoint, Brooklyn. This marks our third acquisition in the last seven months in northern Brooklyn and the second on Manhattan Avenue. 323 5th Avenue and 673 Manhattan Avenue, were acquired in July ‘24. All properties are in strong retail and residential corridors, and were acquired from very long-term owners. We have an additional mixed-use property close to contract signing in another prime location in Brooklyn, and are looking for more opportunities with the similar metrics; prime retail corridors, tax protected class, with 1-4 vacant apartments. H Equities is actively seeking bridge financing opportunities, as well as direct acquisitions and investments with like-minded sponsors. We are especially interested in providing preferred equity or mezzanine financing where traditional lenders are quoting less leverage and sponsors would like to fill in their capital stack with additional, accretive financing. If you or a client are in need of debt or equity, I forward to discussing the opportunities with you and can be reached via [email protected] or 917-748-1955. Please feel free to reach out anytime. Thank you, Elliot Horowitz Chief Executive Officer H Equities LLC

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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