CROWN Investments Acquires Multifamily Property In Park Slope, Brooklyn For $3.5M
SOLD
$3,500,000
New York
See Similar DealsMultiFamily4,340 SF
Sold 05/18/2022
SOLD
CROWN Investments Acquires Multifamily Property In Park Slope, Brooklyn For $3.5M
351 6th Avenue, Brooklyn, New York 11215, United States
See Similar DealsMultiFamily4,340 SF
Sold 05/18/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$806
Total Square Footage:4,340 SF
Transaction Type:Sale
The multifamily property located at 351 6th Ave. in Park Slope, Brooklyn has been sold for a price of $3,500,000. The transaction took place on May 18, 2022. This property consists of 4 units and spans across a total area of 4,345 square feet. The price per unit amounts to $875,000, while the price per square foot is approximately $805.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Date: 05/18/2022
- Address: 351 6th Ave.
- Market: Park Slope, Brooklyn
- Units: 4
- Price Per Unit: $875,000
- Total Square Feet: 4,345
- Price Per Square Foot: $805
The buyer of the property is CROWN Investments, represented by Justin Homapour. On the other hand, Joseph Maurer and Howard Pronsky served as the sellers in this transaction. Upon completion of the deal, Justin Homapour expressed interest in more deals and included his contact information for potential future transactions. He can be reached at 516.770.4297.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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