Updated Dec 21, 2023
Atlas Realty Group Partners Acquires Multifamily Property In Park Slope, Brooklyn For $2.35M
427 3rd Avenue, Brooklyn, New York 11215, United States
$2,350,000
$451/SF
Building Size
5,200 SF
Asset Type
MultiFamily
Closing
Jun 21, 2022
About this deal
AI
The multifamily property located at 427 3rd Ave. in Park Slope, Brooklyn has been sold for a price of $2,350,000. The property consists of 8 units with an average price per unit of $293,750. It spans across 5,200 square feet, resulting in a price per square foot of $451.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,350,000
- Address: 427 3rd Ave., Park Slope, Brooklyn
- Market: Park Slope, Brooklyn
- Number of Units: 8
- Price per Unit: $293,750
- Total Square Footage: 5,200
- Price per Square Foot: $451
The sellers of the property were Adam Gelb and Murray Gelb. The transaction was facilitated by Yosef Katz, Erik Yankelovich, and Shlomo Antebi of Atlas Realty Group Partners LLC.
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
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93