Justin Homapour Acquires Multifamily Property On 6th Avenue In Park Slope, Brooklyn For $3.2M
347 6th Avenue
$3,200,000
$699/SF
Building Size
4,576 SF
Asset Type
MultiFamily
Closing
Sep 27, 2023
AI
The multifamily property located at 347 6th Avenue in Park Slope, Brooklyn has been sold for a price of $3,200,000. The property consists of four units, with each unit having a per unit price of $800,000. The total square footage of the property is 4,576, resulting in a price per square foot of $699. The transaction took place on September 27, 2023, with Justin Homapour purchasing the property from Russell Lande.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,200,000
- Units: 4
- Price per Unit: $800,000
- Square Footage: 4,576
- Price per Square Foot: $699
- Address: 347 6th Avenue, Park Slope, Brooklyn
- Buyer: Justin Homapour
- Seller: Russell Lande
- Brokers: Shaun Riney & Mark Zarrella - Marcus & Millichap
The deal was facilitated by Shaun Riney and Mark Zarrella, who represented the buyer and seller respectively as brokers from Marcus & Millichap. The transaction highlights the successful collaboration between these industry professionals in achieving a favorable outcome for their clients.
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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93