Updated Dec 19, 2023
Chung Family Sells Multifamily Property On Prospect Ave, Park Slope For $1.39M
197 Prospect Avenue, Brooklyn, New York 11215, United States
$1,390,000
$411/SF
Building Size
3,375 SF
Asset Type
MultiFamily
Closing
Apr 14, 2022
About this deal
AI
The multifamily property located at 197 Prospect Ave in Park Slope has been sold in a recent transaction. The property consists of 6 units and spans a total square footage of 3,375. The sale price for this transaction was $1,390,000, resulting in a price per unit of $231,666 and a price per square foot of $411.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $1,390,000
- Units: 6
- Price per Unit: $231,666
- Square Footage: 3,375
- Price per Square Foot: $411
- Address: 197 Prospect Ave
- Market: Park Slope
The sale was facilitated by Marcel Fridman from the Barcel Group, who represented the Chung Family, the sellers of the property. Marcel Fridman, as the seller's broker in this deal, successfully helped complete the transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.41%
Cash-on-Cash
-3.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93