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370 5th Avenue, New York Ci...

Bestreich Realty Group Facilitates $3.6M Sale Of Mixed-Use Property In Park Slope
SOLDMixed-use

Bestreich Realty Group Facilitates $3.6M Sale Of Mixed-Use Property In Park Slope

370 5th Avenue, New York City, New York 10118, United States

$3,575,000

$691/SF

Building Size

5,169 SF

Asset Type

Mixed-use

Closing

Apr 25, 2022

AI

A mixed-use property located at 370 5th Ave. in Park Slope has been sold for a price of $3,575,000. The property spans an area of 5,169 square feet, resulting in a price per square foot of $691. The sale was facilitated by brokers Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, Daniel Shawah, and Gabriel Kates from Bestreich Realty Group (BRG). The seller of the property was Stephen O'Rourke.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,575,000
  • Address: 370 5th Ave.
  • Market: Park Slope

All residential units within the property were delivered vacant, as mentioned by @BRG_CRE.

Additional representatives involved in the deal were Daniel Shawah and Gabriel Kates from Bestreich Realty Group (BRG). They played a key role in facilitating the transaction, alongside the aforementioned brokers. It is notable that all residential units within the property were vacant at the time of the sale.

Players

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$602.2M

vol

141 deals

Broker
Gabriel Kates
Verified Badge

Gabriel Kates

Block Real Estate Group

Broker

$158.4M

vol

59 deals

Broker

Stephen E O'Rourke

Seller

$7.2M

vol

2 deals

Seller

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

4.44%

Cash-on-Cash

-1.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93