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251 Saint Marks Avenue

Ariel Shalom Sells 7 Unit Multifamily Property In Prospect Heights Brooklyn For $12.83M
SOLDMultiFamily

Ariel Shalom Sells 7 Unit Multifamily Property In Prospect Heights Brooklyn For $12.83M

251 Saint Marks Avenue

$12,835,000

$1,346/SF

Building Size

9,536 SF

Asset Type

MultiFamily

Closing

Jul 12, 2024

AI

The property asset involved in this transaction is a 7-unit condominium located at 251 Saint Marks Avenue in Prospect Heights, Brooklyn. The sale price for the property amounted to $12,835,000, with a price per unit of $1,833,571. The total square footage of the property is 9,536, which results in a price per square foot of $1,346.

Summary of transaction details:

Key individuals in this transaction include the seller Ariel Shalom and the broker representing the seller, Nick Hovsepian from The Corcoran Group. The transaction took place on 07/12/2024.

Players

Nick Hovsepian

The Corcoran Group

Broker

$67.8M

vol

9 deals

Broker

Brooklyn 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

1.24%

Cash-on-Cash

-0.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93