Sharif Sayed & Marcel Friedman Acquire Mixed-Use Property In Park Slope For $2.25M
477 7th Avenue, Brooklyn, New York 11215, United States
$2,250,000
$271/SF
Building Size
8,292 SF
Asset Type
Mixed-use
Closing
Dec 20, 2021
AI
Located in Park Slope, the mixed-use property at 477 7th Ave has been sold for a price of $2,250,000. The transaction took place on December 20, 2021. The property spans 8,292 square feet, resulting in a price per square foot of $271. The asset is zoned as R6A for residential use and C2-4 for commercial use.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,250,000
- Address: 477 7th Ave
- Market: Park Slope
- Zoning: R6A, C2-4
The buyers, Sharif Sayed and Marcel Friedman, acquired the property from the Orrio Family. The deal was facilitated by Lev Mavashev and Ben Normatov from the brokerage firm Alpha Realty.
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
7.05%
Cash-on-Cash
-2.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93