Updated Apr 1, 2025
Sean R. Kelly And Benjamin Vago Of Ariel Property Advisors Facilitate $11.15M Multifamily Sale In Greenpoint
Mcguinness Boulevard
$11,150,000
$359/SF
Building Size
31,023 SF
Asset Type
MultiFamily
Closing
Mar 28, 2025
About this deal
AI
The transaction involves a multifamily asset located at 287-299 McGuinness Boulevard in the Greenpoint market, consisting of three buildings with a total of 30 residential units. The total sale price for the property was $11,150,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $11,150,000
- Address: 287-299 McGuinness Boulevard
- Market: Greenpoint
- Buildings: 3
- Units: 30
The deal was represented by Sean R. Kelly, Esq. and Benjamin Vago, Esq. from Ariel Property Advisors, assisting in the transaction between the relevant parties.
On the Map
$11,150,000
$359/SF
MultiFamily
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Brooklyn 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
1.42%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93