Updated Dec 20, 2023
William Chang Acquires Park Slope Multifamily For $4.7M
417 3rd Street, Park Slope, Brooklyn, NY, USA
$4,700,000
$902/SF
Building Size
5,208 SF
Asset Type
MultiFamily
Closing
Feb 11, 2021
About this deal
AI
Located in Park Slope, the multifamily property at 417 3rd Street has recently changed hands in a closed transaction.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $4,700,000
- Address: 417 3rd Street
- Market: Park Slope
The buyer, William Chang, acquired the property from the seller, Kenneth Nicholds. Bestreich Realty Group, represented by Toby Waring, Derek Bestreich, and Adam Lobel, facilitated the transaction.
The property consists of four units, with each unit priced at approximately $1,175,000. Spanning over 5,208 square feet, the property has a price per square foot of $902.
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
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93