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Mixed Use

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293 Grand Avenue

Arthur Gabriel, Suren Gabriel & Ben Normatov Acquire Mixed-Use Package Deal For $7.3M
SOLDMixed-use

Arthur Gabriel, Suren Gabriel & Ben Normatov Acquire Mixed-Use Package Deal For $7.3M

293 Grand Avenue & 528 Fifth Avenue

$7,300,000

$414/SF

Building Size

17,604 SF

Asset Type

Mixed-use

Closing

May 5, 2026

AI

A package deal comprising a mixed-use and multifamily asset was sold for $7,300,000. The properties involved are located at 293 Grand Avenue and 528 Fifth Avenue, situated in the Park Slope and Clinton Hill markets.

Summary of transaction details:

The deal featured brokerage representation by Shaun Riney and Andrew Bronsteen, who facilitated the transaction on behalf of the buyers Arthur Gabriel, Suren Gabriel, and Ben Normatov. Their role was pivotal in navigating the complexities of the property acquisition.

Players

Andrew Bronsteen

Marcus & Millichap

Broker

$272.5M

vol

66 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

366 deals

Broker
Ben Normatov

Ben Normatov

Buyer

$269.9M

vol

41 deals

Buyer

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

2.17%

Cash-on-Cash

-0.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93