Updated Dec 4, 2024
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
About this deal
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