Adam J Hess & Edward Setton Of Meridian Capital Group Sell Mixed-use Property In Park Slope For $3.4M
SOLD
New York
See Similar DealsMixed-use6,040 SF
Sold 07/24/2024
SOLD
Adam J Hess & Edward Setton Of Meridian Capital Group Sell Mixed-use Property In Park Slope For $3.4M
493 7th Avenue
See Similar DealsMixed-use6,040 SF
Sold 07/24/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$562
Total Square Footage:6,040 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$181,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,079.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,117.73
Annual Debt Service$193,412.82
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