Arya Zand Acquires Mixed-Use Property From Shabtian & Ardestani Family For $3.15M In Park Slope
500 Fifth Avenue
$3,150,000
$787/SF
Building Size
4,000 SF
Asset Type
Mixed-use
Closing
Aug 13, 2026
About this deal
AI
A mixed-use property located at 500 Fifth Avenue in the Park Slope neighborhood of Brooklyn was sold for $3,150,000. The asset spans 4,000 square feet, resulting in a price per square foot of $788.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,150,000
- Buyer: Arya Zand
- Seller: Shabtian & Ardestani Family
- Brokers: Matthew Cosentino & Remi Norris - Terra CRG
- Date of Sale: 08/13/2026
This transaction involved Arya Zand as the buyer, acquiring the property from the Shabtian & Ardestani Family, with representation by Matthew Cosentino and Remi Norris from Terra CRG. The deal highlights the engagement of experienced brokers in facilitating property transactions within the Brooklyn market.
On the Map
$3,150,000
$787/SF
Mixed-use
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Players
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
5.04%
Cash-on-Cash
-1.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93