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347 6th Avenue

Justin Homapour Acquires Multifamily Property On 6th Avenue In Park Slope, Brooklyn For $3.2M
SOLDMultiFamily

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

Mark Zarrella

Marcus & Millichap

Broker

$262.2M

vol

38 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

359 deals

Broker
Justin Homapour

Justin Homapour

Buyer

$16.2M

vol

8 deals

Buyer

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