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122 7th Avenue

Eddie Vays & Ben Smuk Acquire Mixed-Use Property In Park Slope For $2.8M
SOLDMixed-use

Eddie Vays & Ben Smuk Acquire Mixed-Use Property In Park Slope For $2.8M

122 7th Avenue

$2,800,000

$700/SF

Building Size

4,000 SF

Asset Type

Mixed-use

Closing

Jul 21, 2022

AI

An mixed-use property located at 122 7th Ave. in Park Slope has been sold for $2,800,000. The property spans 4,000 square feet and was sold at a price of $700 per square foot.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,800,000

Eddie Vays and Ben Smuk have acquired the property from David Surgan. Marcel Fridman from Barcel Group represented Eddie Vays and Ben Smuk as their buyer's representative. On the other hand, Derek Bestreich and Luke Sproviero from Investment Property Realty Group (IPRG) acted as the seller's representatives.

Players

Derek Bestreich

Investment Property Realty Group (IPRG)

Broker

$1.1B

vol

312 deals

Broker

Ben Smuk

Buyer

$10M

vol

3 deals

Buyer

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

5.67%

Cash-on-Cash

-1.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93