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1021 8th Avenue

Max Kaestner And Nick Kaestner Acquire Mixed-use Property In Park Slope For $5.45M
SOLDMixed-use

Max Kaestner And Nick Kaestner Acquire Mixed-use Property In Park Slope For $5.45M

1021 8th Avenue

$5,450,000

$746/SF

Building Size

7,300 SF

Asset Type

Mixed-use

Closing

Jan 29, 2026

AI

The property asset involved in this transaction is a mixed-use building located at 1021 8th Avenue in the Park Slope market. The sale was finalized for a transaction amount of $5,450,000, with a total square footage of 7,300, resulting in a price per square foot of $746.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $5,450,000
  • Address: 1021 8th Avenue
  • Market: Park Slope
  • Square Footage: 7,300
  • Price per Square Foot: $746
  • Buyer: Max Kaestner & Nick Kaestner
  • Seller: RYCO Capital
  • Brokers: Daniel O'Brien, Caroline Hodes, Henry Hill & Loren Valla - Newmark

The individuals involved in this transaction include buyers Max Kaestner and Nick Kaestner, who acquired the property from the seller RYCO Capital. The brokers representing the parties in this deal are Daniel O'Brien, Caroline Hodes, Henry Hill, and Loren Valla from Newmark, facilitating the transaction.

Players

Caroline Hodes

Newmark

Broker

$1.8B

vol

94 deals

Broker
Max Kaestner

Max Kaestner

Buyer

$9.7M

vol

1 deal

Buyer
RC
Ryco CapitalSeller

Brooklyn Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.91%

Cash-on-Cash

-0.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93