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477 7th Avenue, Brooklyn, N...

Sharif Sayed & Marcel Friedman Acquire Mixed-Use Property In Park Slope For $2.25M
SOLDMixed-use

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

Lev Mavashev

Alpha Realty

Broker

$742M

vol

106 deals

Broker

Sharif Sayed

Buyer

$4.2M

vol

2 deals

Buyer

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