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1021 8th Ave, Brooklyn, NY ...

Updated Dec 19, 2023

Alchemy Ventures Acquires Mixed-Use Property In Park Slope, Brooklyn For $4.2M
SOLDMixed-use

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

Peter Von Der Ahe

Marcus & Millichap

Broker

$1.4B

vol

110 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.9B

vol

377 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $575 per square foot on a published $4.2M for 7,295 square feet (2020).

Visit Peter Von Der Ahe to view all their deals.

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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

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