Sugar Hill Capital Partners paid $11M to Renaissance Properties

Sugar Hill Capital Partners through the entity 136 Ppw Residences, LLC paid Renaissance Properties’s Beaux-Arts Properties LLC $10.8 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 18 residential units at 136 Prospect Park West in Park Slope. The deal closed on July 11, 2019 and was recorded on July 22, 2019. The parcel(s) have total development potential of 20,562 square feet.
The sale price per unit is $600,966..
The estimated cap rate is 2.6%

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $272,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link