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347 6th Avenue

Updated Dec 4, 2024

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

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.

On the Map

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$3,200,000

$699/SF

MultiFamily

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Players

Mark Zarrella

Marcus & Millichap

Broker

$262.2M

vol

38 deals

Broker
Shaun Riney
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Shaun Riney

Marcus & Millichap

Broker

$1.9B

vol

383 deals

Broker
Justin Homapour

Justin Homapour

Buyer

$16.2M

vol

8 deals

Buyer
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Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $699 per square foot on a published $3.2M for 4,576 square feet (2023).

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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

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