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
10,500 SF
Asset Type
Mixed-use
Closing
May 5, 2026
About this deal
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:
- Property Type: Package Deal (Mixed-use & Multifamily)
- Transaction Amount: $7,300,000
- Buyer: Arthur Gabriel, Suren Gabriel & Ben Normatov
- Brokers: Shaun Riney & Andrew Bronsteen - Marcus & Millichap
- Sale Date: 5/6/2026
- Addresses: 293 Grand Avenue & 528 Fifth Avenue
- Market: Park Slope & Clinton Hill
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.
On the Map
$7,300,000
$414/SF
Mixed-use
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Players
Brooklyn 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
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93