Richard Lee Acquires Mixed-Use Property In Park Slope For $2.75M
199 5th Ave, Brooklyn, NY 11217, USA
$2,750,000
$657/SF
Building Size
4,180 SF
Asset Type
Mixed-use
Closing
Jun 18, 2019
About this deal
AI
A mixed-use property located at 199 5th Avenue in Brooklyn's Park Slope neighborhood has been sold in a closed transaction. The property spans 4,180 square feet and consists of both residential and commercial spaces. It was listed with an asking price of $2,900,000, and was ultimately sold for $2,750,000, resulting in a price per square foot of $657.
Summary of transaction details:
- Property Type: Mixed-use
- Asking Price: $2,900,000
- Sale Price: $2,750,000
- Square Footage: 4,180
- Price per Square Foot: $657
The seller of the property was Lucia Palumbo, and the buyer was Richard Lee. The transaction was facilitated by brokers from BRG_CRE, including Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring.
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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93