Ariel Akkad Acquires Mixed-Used Property In Park Slope, Brooklyn For $5.35M
358 7th Avenue, Brooklyn, New York 11215, United States
$5,350,000
$765/SF
Building Size
6,990 SF
Asset Type
Mixed-use
Closing
Feb 28, 2022
AI
A mixed-use property located at 356 7 Avenue & 358 7 Avenue in Park Slope, Brooklyn has been sold for a total price of $5,350,000. The property has a building square footage (BSF) of 10,146, with a price per BSF (PPBSF) of $527. The total square footage (SF) of the property is 6,990, with a price per SF (PPSF) of $765. The lot size is 1,514 with dimensions of 19.67 ft x 77 ft. The property falls under zoning regulations R6A and C2-4, and is classified as tax class 1. The floor area ratio (FAR) is 2.31.
Summary of transation details
- Property Type: Mixed-used
- Transaction Amount: $5,350,000
- Buyer: Ariel Akkad
- Seller: Dennis Desimone
- BSF: 10,146
- PPBSF: $527
- SF: 6,990
- PPSF: $765
- Zoning: R6A, C2-4
- Lot Size: 1,514
- Lot Dimensions: 19.67 ft x 77 ft
- Tax Class: 1
The buyer of the property is Ariel Akkad, while the seller is Dennis Desimone.
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
2.97%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93