Conway Capital Acquires Multifamily Property In Park Slope For $3M
SOLD
New York
See Similar DealsMultiFamily6,300 SF
Sold 11/18/2022
SOLD
Conway Capital Acquires Multifamily Property In Park Slope For $3M
350 5th Street
See Similar DealsMultiFamily6,300 SF
Sold 11/18/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$476
Total Square Footage:6,300 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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