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Gregory P. Fournier Acquires Multifamily Property In Park Slope, Brooklyn For $3.6M

Property Image
SOLD
$3,575,000

New York

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MultiFamily5,179 SF
Sold 04/26/2022
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Property Image
SOLD

Gregory P. Fournier Acquires Multifamily Property In Park Slope, Brooklyn For $3.6M

370 5th Avenue, Brooklyn, New York 11215, United States

See Similar Deals
MultiFamily5,179 SF
Sold 04/26/2022
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$690
Total Square Footage:5,179 SF
Transaction Type:Sale

The multifamily property located at 370 Fifth Avenue in Park Slope, Brooklyn has been sold. The property is zoned as R6A and C1-4, allowing for mixed-use development. The sale took place on April 26, 2022, with a transaction amount of $3,575,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,575,000
  • Market: Park Slope, Brooklyn
  • Zoning: R6A, C1-4

The buyer of the property is Gregory P. Fournier, while the seller is Stephen E O'Rourke.

The property has a building square footage (BSF) of 7,434, with a price per square foot (PPSF) of $480. The total square footage (SF) of the property is 5,179, with a price per square foot (PPSF) of $690.

The FAR (Floor Area Ratio) of the property is 2.09, and it falls under tax class 2A.

The lot size of the property is 2,478 square feet, with dimensions of 25.33 ft x 97.83 ft. The property has an alteration permit dating back to October 19, 2016, which indicates previous renovations.

Players

GF
19 deals$607.1M volume
BUYER

2 deals$7.2M volume
SELLER

Details

SOLD
IMAGE: 04/26/2022 ADDRESS: 370 Fifth Avenue MARKET: Park Slope, Brooklyn ASSET TYPE: Multifamily ~ ZONING: R6A, C1-4 BUYER: Gregory P. Fournier SELLER: Stephen E O'Rourke PRICE: $3,575,000 BSF: 7,434 ~ PPBSF: $480 SF: 5,179 ~ PPSF: $690 FAR: 2.09 TAX CLASS: 2A LOT SIZE: 2,478 PERMITS: Alteration 2 (10/19/2016) LOT DIMENSION: 25.33 ft x 97.83 ft

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$12,701.22
Cash-on-Cash Return-1.27%
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