Sugar Hill Capital Partners paid $20M to Renaissance Properties
Sugar Hill Capital Partners through the entity 150 Ppw Residences, LLC paid Renaissance Properties’s Kenneth Lawrence Company LLC $20.3 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 30 residential units at 150 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 37,109 square feet.
The sale price per unit is $676,087..
The estimated cap rate is 2.8%