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PRESS RELEASE | Ariel Property Advisors Sells 6-Unit Multifamily Building In Bushwick For $1.49 Million
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Ariel Property Advisors Sells 6-Unit Multifamily Building In Bushwick For $1.49 Million

NEW YORK, NY – November 20, 2017 – Ariel Property Advisors facilitated the sale of 231 Stanhope Street, a multifamily building in the rapidly appreciating Brooklyn neighborhood of Bushwick. The 6-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 3-story building, which spans 4,875 square feet, is located between Irving and Knickerbocker Avenues, a highly sought-after area in the flourishing neighborhood. Of the six residential units, two were delivered vacant.


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 Daniel 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 Avenue M station and the Dekalb Avenue L station situated just blocks away.


More information is available from the exclusive agents at 212-544-9500: Daniel Tropp, ext. 26, dtropp@arielpa.com; and Jonathan Berman, ext. 20, jberman@arielpa.com

Ariel Property Advisors

Ariel Property Advisors is a New York City-based commercial real estate services and advisory company with three main groups: investment sales, capital services and research. The Investment Sales Group covers all major commercial asset types throughout the NY metropolitan area, while the Capital Services Group provides clients nationwide with custom tailored financing. Finally, our Research team empowers our professionals and clients with timely market reports. More information is available at arielpa.nyc.



For press inquiries, please contact our Public Relations Department at 212.544.9500 ext. 19 or via pr@arielpa.com

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The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein.