Hakimian of Highcap Group sells Williamsburg walk-up for $2.2 million

Photo of 277 Humboldt Street in Brooklyn, a 5,500 s/f walk-up.

277 Humboldt Street - Brooklyn, NY

Brooklyn, NY Jonathan Hakimian, an investment sales associate at Highcap Group, has arranged the sale of 277 Humboldt St. in the Williamsburg neighborhood for $2.2 million. Hakimian represented the buyer and seller in the off-market transaction.

The four-story walk-up was originally built in 1920 and is located between Maujer and Grand Sts. The building consists of eight apartments and totals 5,500 gross s/f.

Photo of Jonathan Hakimian, investment sales associate at <a class=

Highcap Group in New York City" width="150" height="150" /> Jonathan Hakimian, Highcap Group

This is the first time the property has changed hands since the 1970s. The sale was a win-win for both parties. With rents being below market, the purchaser was able to add an excellent asset with tremendous upside to his growing portfolio in the up-coming neighborhood. While the seller was also able to achieve an aggressive price that equated to over 23 times the rent roll.

Tags: Brokerage

Reprint

Previous Story Next Story

Marcus & Millichap brokers $2.8 million sale of free-market mixed-use property in Brooklyn

Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.

Investment Property Realty Group’s Team Friedman brokers seven Bronx closings totaling $12.07 million

IPRG’s Team Friedman brokers 7 Bronx closings totaling $12.07m

Highcap Group sells Astoria 17 unit elevatored apartment building

OPEN Impact R.E. helps Coney Island Prep. secure 39-year leasehold condominium for new 45,190 s/f high school

OPEN Impact helps Coney Island Prep. secure leasehold condo. for new high school

New York restaurant group acquires Upper West Side retail co-op for $4.135 million in deal arranged by Lee & Associates NYC

N.Y. restaurant group acquires Upper West Side retail co-op for $4.135m in deal arranged by Lee & Associates NYC

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Spotlight Content

Slow moving cap rates - by John Rynne

Columns and Thought Leadership

Positive forecast for New York’s pro-housing push? - by Philip Butler

New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.