Alchemy Ventures Acquires Mixed-Use Property In Park Slope, Brooklyn For $4.2M
1021 8th Ave, Brooklyn, NY 11215, USA
$4,200,000
$575/SF
Building Size
7,295 SF
Asset Type
Mixed-use
Closing
Oct 14, 2020
About this deal
AI
Alchemy Ventures, represented by Sam Kooris, has acquired a mixed-use property located at 1021 8th Avenue in Park Slope, Brooklyn. The property was sold for a total price of $4,200,000. With a total area of 7,295 square feet, the price per square foot comes out to be $575. The property consists of 8 units, with each unit having an average price of $525,000. The property is classified under tax class 2B and is situated in an R6B zoning area.
Summary of Transaction Details:
- Property Type: Mixed-use
- Transaction Amount: $4,200,000
- Address: 1021 8th Avenue, Park Slope, Brooklyn
- Market: Park Slope, Brooklyn
- Buyer: Alchemy Ventures - Sam Kooris
- Seller: [Confidential]
- Brokers: Peter Von Der Ahe, Shaun Riney, Mark Zarrella - Marcus & Millichap
- Total Square Feet: 7,295
- Price per Square Foot: $575
- Number of Units: 8
- Price per Unit: $525,000
- Tax Class: 2B
The deal was facilitated by the brokerage team from Marcus & Millichap, including Peter Von Der Ahe, Shaun Riney, and Mark Zarrella. Their expertise and negotiation skills played a crucial role in the successful completion of the transaction.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93