Connor Domershick And Max Maleh Acquire Park Slope Multifamily Property For $8M
423 16th Street, Brooklyn, NY, USA
$8,000,000
$685/SF
Building Size
11,668 SF
Asset Type
MultiFamily
Closing
Nov 30, 2021
AI
A multifamily property located at 423 16th in Park Slope, Brooklyn has been sold for a total of $8,000,000. The property consists of 16 units with an average price per unit of $500,000. The total square footage of the property is 11,668, resulting in a price per square foot of $685.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Address: 423 16th, Park Slope
- Market: Park Slope
- Buyer: Connor Domershick & Max Maleh
- Seller: Rich Giancola
- Brokers: Luke Sproviero & Derek Bestreich - BRG (Bestreich Realty Group)
- Total Units: 16
- Price per Unit: $500,000
- Total Square Footage: 11,668
- Price per Square Foot: $685
The transaction was facilitated by brokers Luke Sproviero and Derek Bestreich from Bestreich Realty Group. They represented both the buyer, Connor Domershick and Max Maleh, as well as the seller, Rich Giancola.
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93