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Po Chan Acquires Multifamily Building At 934 Sterling Place Brooklyn For $1.65M

Property Image
SOLD
$1,650,000

New York

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MultiFamily7,516 SF
Sold 06/30/2025
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Property Image
SOLD

Po Chan Acquires Multifamily Building At 934 Sterling Place Brooklyn For $1.65M

934 Sterling Place

See Similar Deals
MultiFamily7,516 SF
Sold 06/30/2025
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$219
Total Square Footage:7,516 SF
Transaction Type:Sale

The multifamily asset located at 934 Sterling Place in Brooklyn was sold for $1,650,000. The property consists of 8 units with a total square footage of 7,516. The price per unit is $206,250 and the price per square foot is $219. The building includes 7 Rent Stabilized units and 1 Free Market unit, with one unit being vacant at the time of closing.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,650,000
  • Buyer: Po Chan
  • Seller: Adam Heller
  • Brokers: Peter Matheos, Isaiah Thomas & Nazaih Arroyo - Matheos Realty Group
  • Units: 8
  • Square Footage: 7,516
  • Price per Unit: $206,250
  • Price per Square Foot: $219

The transaction was represented by Peter Matheos, Isaiah Thomas, and Nazaih Arroyo from Matheos Realty Group, providing expertise in the multifamily real estate market for both the buyer and the seller during this deal.

Players

Isaiah Thomas
17 deals$76.9M volume(347) 886-1235
BROKER

Peter Matheos
Matheos Realty Group
21 deals$69.2M volume(646) 423-0757
BROKER

Nazaih Arroyo
Matheos Realty Group
3 deals$6.3M volume
BROKER

Matheos Realty Group
BROKERAGE

Details

SOLD
IMAGE: Peter Matheos, Isaiah Thomas & Nazaih Arroyo DATE: 6/30/2025 ADDRESS: 934 Sterling Place MARKET: Brooklyn ASSET TYPE: Multifamily BUYER: Po Chan SELLER: Adam Heller BROKERS: Peter Matheos (@P_matheos), Isaiah Thomas (@bkrealtorzay) & Nazaih Arroyo (@nazsellsnyc) - Matheos Realty Group (@MatheosRealtyGroup) SALE PRICE: $1,650,000 UNITS: 8 ~ PPU: $206,250 SF: 7,516 ~ PPSF: $219 NOTE FROM BROKER: The 8-unit multifamily building comprised 7 Rent Stabilized units and 1 Free Market unit. The property was delivered with one vacant unit at the time of closing.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$88,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
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