Sugar Hill Capital Partners Acquires 24-Unit Multifamily Property In Brooklyn, NY For $5.6M
SOLD
$5,600,000
New York
See Similar DealsMultiFamily12,300 SF
Sold 11/29/2020
SOLD
Sugar Hill Capital Partners Acquires 24-Unit Multifamily Property In Brooklyn, NY For $5.6M
932 Eastern Pkwy, Brooklyn, NY 11213, USA
See Similar DealsMultiFamily12,300 SF
Sold 11/29/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$455
Total Square Footage:12,300 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$298,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,895.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,546.86
Annual Debt Service$318,562.28
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