$12.2M Prospect Slope Portfolio Mixed-Use Sale In Prospect Heights & Park Slope, Brooklyn By Benjamin Zalman To Undisclosed Buyer Represented By Peter Von Der Ahe, Shaun Riney, Mark Zarrella, And Andrew Bronsteen
770 Washington Ave, Brooklyn, NY 11238, USA
$12,200,000
$597/SF
Building Size
20,415 SF
Asset Type
Mixed-use
Closing
Sep 21, 2020
About this deal
AI
The Prospect Slope Portfolio, consisting of properties located at 770 Washington Ave., 66 6th Ave., 585 Vanderbilt Avenue, 40 4th Ave., and 257 Flatbush Ave., has been sold in a recent transaction in Prospect Heights & Park Slope, Brooklyn. The mixed-use asset spans a total of 20,415 square feet and was sold for a total price of $12,200,000, resulting in a price per square foot of $598. The portfolio includes 25 units, with an average price per unit of $488,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $12,200,000
- Address: 770 Washington Ave., 66 6th Ave., 585 Vanderbilt Avenue, 40 4th Ave., 257 Flatbush Ave.
- Market: Prospect Heights & Park Slope, Brooklyn
- Buyer: 🤫
- Seller: Benjamin Zalman
- Brokers: Peter Von Der Ahe, Shaun Riney, Mark Zarrella, Andrew Bronsteen (@NewYorkMultifamily, @MarcusMillichap_NY)
The deal was facilitated by brokers Peter Von Der Ahe, Shaun Riney, Mark Zarrella, and Andrew Bronsteen, representing the buyer and seller in the transaction. The buyer's and seller's identities were not disclosed. The sale of the Prospect Slope Portfolio highlights the demand for mixed-use properties in the Prospect Heights & Park Slope neighborhood of Brooklyn.
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
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93