Updated Oct 29, 2024
Sugar Hill Capital Partners Acquires 24-Unit Multifamily Property In Brooklyn, NY For $5.6M
932 Eastern Pkwy, Brooklyn, NY 11213, USA
$5,600,000
$455/SF
Building Size
12,300 SF
Asset Type
MultiFamily
Closing
Nov 28, 2020
About this deal
AI
The multifamily property located at 932-938 Eastern Parkway in Brooklyn, NY has been sold for $5,600,000. The property consists of 24 units, with a price per square foot of $228. The transaction resulted in a cap rate of 3.8%.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $5,600,000
- Units: 24
- Price per Square Foot: $228
- Cap Rate: 3.8%
Sugar Hill Capital Partners was the buyer in this transaction, while Joseph Scarpinito served as the seller. The deal was facilitated by Jacob Stavsky of VCPRE.
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93