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132 Norman Avenue

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

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

$6,825,000

$148/SF

Building Size

45,900 SF

Asset Type

Package Deal

Closing

Jul 25, 2024

AI

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 Setton

Sterling Property Group NY

Broker

$251.4M

vol

55 deals

Broker

Brooklyn Package Deal Market Snapshot

Boundary boundary · Package Deal · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.32%

Cash-on-Cash

-0.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93