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Package Deal Multifamily Sale In Greenpoint & Carroll Gardens Brooklyn For $6.825M By Adam J Hess & Edward Setton

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SOLD
$6,825,000

New York

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Package Deal45,900 SF
Sold 07/25/2024
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SOLD

Package Deal Multifamily Sale In Greenpoint & Carroll Gardens Brooklyn For $6.825M By Adam J Hess & Edward Setton

132 Norman Avenue, 196 Sackett Street & 32 Garnet Street

See Similar Deals
Package Deal45,900 SF
Sold 07/25/2024
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Summary

NEW YORK
Asset Type:Package Deal
Price Per Square Foot:$148
Total Square Footage:45,900 SF
Transaction Type:Sale

The transaction involved a package deal comprising three multifamily properties located at 132 Norman Avenue, 196 Sackett Street, and 32 Garnet Street in the Greenpoint and Carroll Gardens neighborhoods of Brooklyn. The total sale price was $6,825,000, with a combined square footage of approximately 15,300, resulting in a price per square foot of $446.

Summary of transaction details:

  • Property Type: Package Deal (Multifamily)
  • Transaction Amount: $6,825,000
  • Address: 132 Norman Avenue, 196 Sackett Street & 32 Garnet Street
  • Market: Greenpoint & Carroll Gardens, Brooklyn
  • Square Footage: 15,300
  • Price Per Square Foot: $446
  • Brokers: Adam J Hess & Edward Setton - Meridian Capital Group

Adam J Hess and Edward Setton represented the transaction as brokers from Meridian Capital Group, facilitating the deal for the involved parties in this multifamily property transaction.

Players

Edward (Eddie) Setton
55 deals$251.4M volume
BROKER

Adam J Hess
Sterling Property Group NY
57 deals$251.4M volume
BROKER

Details

SOLD
IMAGE: Adam J Hess & Edward Setton DATE: 7/25/2024 ADDRESS: 132 Norman Avenue, 196 Sackett Street & 32 Garnet Street MARKET: Greenpoint & Carroll Gardens, Brooklyn ASSET TYPE: Package Deal (Multifamily) BROKERS: Adam J Hess (@TeamHessBK) & Edward Setton - Meridian Capital Group (@Meridian.Capital.Group) SALE PRICE: $6,825,000 SF: 15300 ~ PPSF: $446

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

$364,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,247.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,353.98
Annual Debt Service$388,247.78