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

April 19, 2016 - Front Section
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 Highcap Group in New York City 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.