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350 5th Street

Conway Capital Acquires Multifamily Property In Park Slope For $3M
SOLDMultiFamily

Conway Capital Acquires Multifamily Property In Park Slope For $3M

350 5th Street

$3,000,000

$476/SF

Building Size

6,300 SF

Asset Type

MultiFamily

Closing

Nov 18, 2022

AI

A multifamily property located at 350 5th Street in Park Slope has been sold in a recent transaction. The property consists of eight units with a total square footage of 6,300. The sale price for the property was $3,000,000, resulting in a price per unit of $375,000 and a price per square foot of $476.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,000,000
  • Address: 350 5th Street
  • Market: Park Slope
  • Buyer: Connor Domershick & Max Maleh - Conway Capital
  • Brokers: Rich Velotta, Henry Grass & Danny Handweiler - Raven Property Advisors
  • Units: 8
  • Price per Unit: $375,000
  • Square Footage: 6,300
  • Price per Square Foot: $476

The buyer of the property is Connor Domershick and Max Maleh from Conway Capital. The deal was facilitated by brokers Rich Velotta, Henry Grass, and Danny Handweiler from Raven Property Advisors.

Players

Richard Velotta

Raven Property Advisors

Broker

$409M

vol

30 deals

Broker

Connor Domershick

Conway Capital

Buyer

$57M

vol

15 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

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93