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493 7th Avenue

Adam J Hess & Edward Setton Of Meridian Capital Group Sell Mixed-use Property In Park Slope For $3.4M
SOLDMixed-use

Adam J Hess & Edward Setton Of Meridian Capital Group Sell Mixed-use Property In Park Slope For $3.4M

493 7th Avenue

$3,400,000

$562/SF

Building Size

6,040 SF

Asset Type

Mixed-use

Closing

Jul 24, 2024

AI

The property asset involved in this transaction is a mixed-use asset located at 493 7th Ave in the Park Slope neighborhood of Brooklyn. It was sold for $3,400,000, encompassing a total square footage of 6,040 with a price per square foot (PPSF) of $563.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,400,000
  • Address: 493 7th Ave
  • Market: Park Slope, Brooklyn
  • Square Footage: 6,040
  • Price per Square Foot: $563
  • Brokers: Adam J Hess & Edward Setton - Meridian Capital Group

In this transaction, Adam J Hess and Edward Setton represented the seller, highlighting their role in facilitating the sale through Meridian Capital Group. Their involvement signifies the professional expertise contributed to this deal.

Players

Edward Setton

Sterling Property Group NY

Broker

$251.4M

vol

55 deals

Broker

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

4.67%

Cash-on-Cash

-1.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93