Updated Oct 28, 2024
HUBB NYC Acquires Multifamily Asset In Park Slope, Brooklyn For $40M
223 4th Avenue, Brooklyn, New York 11215, United States
$40,000,000
$828/SF
Building Size
48,256 SF
Asset Type
MultiFamily
Closing
Sep 18, 2022
About this deal
AI
A multifamily property located at 223 4th Ave. in Park Slope, Brooklyn has been sold for $40,000,000. The property consists of 63 units with an average price per unit of $634,920. The total square footage of the property is 48,256, resulting in an average price per square foot of $828.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $40,000,000
- Address: 223 4th Ave.
- Market: Park Slope, Brooklyn
The buyer of the property is HUBB NYC, represented by Jonny McCarthy and Jesse Terry. The seller is Greystone Development. The deal was facilitated by Daniel O'Brien, Adam Spies, Adam Doneger, and Avery Silverstein from Cushman & Wakefield.
On the Map
$40,000,000
$828/SF
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Daniel (Dan) O'Brien to view all their deals.
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93