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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,; and Jonathan Berman, ext. 20,

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Ariel Property Advisors

Ariel Property Advisors is a New York City-based commercial real estate services and advisory company offering expertise in three core areas: Investment Sales, Capital Services and Research & Advisory. Our Investment Sales Group specializes in all major commercial asset types throughout the New York metropolitan area, the Capital Services Group provides clients nationwide with custom-tailored financing solutions and the Research & Advisory team delivers timely market reports, empowering both our professionals and clients. Additionally, our recent strategic partnership with GREA (Global Real Estate Advisors), a nationwide network of independent real estate investment services companies, further expands our reach and capabilities. To learn more, please visit us at

Media Contact

Gail Mitchell Donovan, Senior Director - 
                          Communications, Ariel Property Advisors

Gail Mitchell Donovan

Senior Director - Communications

212.544.9500 ext. 19


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