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419 16th Street, NY

Max Maleh & Connor Domershick Acquire Multifamily Property In Park Slope For $4.2M
SOLDMultiFamily

Max Maleh & Connor Domershick Acquire Multifamily Property In Park Slope For $4.2M

419 16th Street, NY & 419 16th Street

$4,200,000

$177/SF

Building Size

23,698 SF

Asset Type

MultiFamily

Closing

Nov 12, 2020

AI

A multifamily property located at 419 16th Street in Park Slope was recently sold for $4,200,000. The property has a total area of 11,849 square feet, resulting in a price per square foot of $354. The transaction took place on November 12, 2020. The property is zoned as R6B and belongs to tax class 2. It sits on a lot measuring 41 feet by 100 feet.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,200,000
  • Address: 419 16th Street
  • Market: Park Slope
  • Zoning: R6B

The buyer in this transaction is Max Maleh and Connor Domershick, while the seller is Ronit Adler. The deal was facilitated by brokers Michael Sherman from The Manhattes Group, as well as Neil Dolgin and Michael Blum from Kalmon Dolgin.

Players

Michael Sherman

Baseline Real Estate Advisors

Broker

$785.1M

vol

45 deals

Broker

Connor Domershick

Conway Capital

Buyer

$57M

vol

15 deals

Buyer

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

3.78%

Cash-on-Cash

-1.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93