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Charles Quimby Acquires Multifamily Property On 4th Avenue In Park Slope For $1.1M

Property Image
SOLD
$2,000,000
Toby Waring
Luke Sproviero
Gabriel Kates
+ 5

New York

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MultiFamily27,720 SF
Sold 06/18/2020
the dealplayerscompscontact
Property Image
SOLD

Charles Quimby Acquires Multifamily Property On 4th Avenue In Park Slope For $1.1M

302 5th St, Brooklyn, NY 11215, USA

See Similar Deals
MultiFamily27,720 SF
Sold 06/18/2020
Toby Waring
Luke Sproviero
Gabriel Kates
+ 5
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$72
Total Square Footage:27,720 SF
Transaction Type:Sale

The multifamily property located at 397 4th Avenue in Park Slope was recently sold for $1,100,000. The transaction took place on June 25, 2021. The property spans a total area of 4,456 square feet and has a price per square foot of $246. It consists of 6 units, with 66% of them being stabilized. The price per unit amounts to $183,333.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,100,000
  • Address: 397 4th Avenue, Park Slope
  • Market: Park Slope
  • Asset Type: Multifamily
  • Tax Class: 2A

The buyer of this property is Charles Quimby. The seller is The Striano Estate, represented by Jerry Striano. The seller's representatives in the deal were Dan O'Brien, Caroline Hodes, and Casey Begoon from Cushman & Wakefield.

Players

Adam Lobel
Investment Property Realty Group (IPRG)
Adam Lobel
137 deals$583.5M volume(314) 920-8639
BROKER
Derek Bestreich
Investment Property Realty Group (IPRG)
Derek Bestreich
312 deals$1.1B volume(718) 360-8802
BROKER
Daniel Shawah
Baldwin Pearson & Co
Daniel Shawah
33 deals$103.9M volume(203) 531-6348
BROKER
Luke Sproviero
Investment Property Realty Group (IPRG)
Luke Sproviero
222 deals$848.7M volume
BROKER
Toby Waring
Investment Property Realty Group (IPRG)
Toby Waring
89 deals$348.6M volume
BROKER
Gabriel Kates
Block Real Estate Group
Gabriel Kates
59 deals$158.4M volume(508) 365-8278
BROKER
CQ
Charles Quimby
3 deals$5.8M volume
BUYER
JS
Jerry Striano
2 deals$3.1M volume
SELLER
JS
Jerry Striano
2 deals$3.1M volume
SELLER

Details

SOLD
IMAGE: Caroline Hodes, Dan O'Brien & Casey Begoon DATE: 06/25/2021 ADDRESS: 397 4th Avenue MARKET: Park Slope ASSET TYPE: Multifamily ~ TAX CLASS: 2A BUYER: Charles Quimby SELLER: The Striano Estate - Jerry Striano SELLER’S REP: Dan O’Brien, Caroline Hodes, Casey Begoon - Cushman & Wakefield SALE PRICE: $1,100,000 SF: 4,456 ~ PPSF: $246 UNITS: 6 (66% stabilized) ~ PPU: $183,333

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

$106,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
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