Tropp and Berman of Ariel Property Advisors arranges $1.49 million sale of Bushwick multifamily

Brooklyn, NY Ariel Property Advisors has facilitated the sale of 231 Stanhope St., a multifamily building in Bushwick. The six-unit property sold for $1.49 million.

Based on the as-is income, the sale equates to a 2.3% capitalization rate, a reflection of limited supply and strong demand for value-add opportunities. The three-story building, which spans 4,875 s/f, is located between Irving and Knickerbocker Aves. Of the six residential units, two were delivered vacant.

Jonathan Berman, Ariel Property Advisors

Exclusive agents Daniel Tropp and Jonathan Berman represented the owner.

“The ideal location of this property offers a golden opportunity, providing the new buyer with a rare value-add opportunity in one of Brooklyn’s most popular neighborhoods,” said Tropp, director at Ariel Property Advisors.

The asset is positioned near an abundance of neighborhood attractions, such as Milk & Pull, Molasses Books, and Maria Hernandez Park. The property also enjoys numerous transportation options, with the Knickerbocker Ave. M station and the Dekalb Ave. L station situated just blocks away.

Tags: Brokerage

Reprint

Previous Story Next Story

JLL Capital Markets facilitates $30.75 million sale of 1 North Main St. to KABR Group

Port Chester, NY JLL Capital Markets has arranged KABR Group’s $30.675 million acquisition of 1 North Main St., a newly constructed mixed-use multifamily and retail development.

Hanna Commercial Real Estate brokers Agri-Plastics 64,000 s/f manufacturing facility lease at Uniland’s 2 Steelworkers Way

Hanna Comm'l. brokers Agri-Plastics 64,000 s/f lease at Uniland’s 2 Steelworkers Way

Delisle and Monahan of Island Associates lease 45,000 s/f to Giunta’s Meat Farms at Strathmore Commons

Island Associates leases 45,000 s/f to Giunta’s Meat Farms

Delisle and Monahan of Island Associates broker 1,110 s/f lease extension for Kings Insurance

Island Associates brokers 1,110 s/f lease extension for Kings Insurance

Island Associates lease 1,050 s/f at Marion Oak Plaza

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

Veris Residential completes $75 million sale of Harborside 8/9 land parcel to Panepinto Properties

Columns and Thought Leadership

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account