Connor Domershick And Max Maleh Acquire Park Slope Multifamily Property For $8M
SOLD
$8,000,000
New York
See Similar DealsMultiFamily11,668 SF
Sold 11/30/2021
SOLD
Connor Domershick And Max Maleh Acquire Park Slope Multifamily Property For $8M
423 16th Street, Brooklyn, NY, USA
See Similar DealsMultiFamily11,668 SF
Sold 11/30/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$685
Total Square Footage:11,668 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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