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Julio Gerchman Acquires Multifamily Property In Park Slope For $3.8M

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SOLD
$3,800,000

New York

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MultiFamily3,095 SF
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SOLD

Julio Gerchman Acquires Multifamily Property In Park Slope For $3.8M

477 14th Street, Park Slope, Brooklyn, NY, USA

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MultiFamily3,095 SF
Sold
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1227
Total Square Footage:3095 SF
Transaction Type:Sale

A multifamily property located at 477 14 Street in Park Slope has been sold for $3,800,000. The property has a building square footage (BSF) of 3,684 and a price per BSF of $1,031. The total square footage (SF) of the property is 3,095, with a price per SF of $1,227. The lot size is 1,842 and the property is classified under tax class 1. The property is zoned as R6B and has a floor area ratio (FAR) of 1.68. The lot dimensions are 18.42 ft x 100 ft. An alteration permit was issued on November 13, 1998.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,800,000
  • Market: Park Slope
  • Zoning: R6B

The buyer of the property is Julio Gerchman and the seller is Edward Tan. The transaction was facilitated by Aran Scott from Douglas Elliman, representing both parties in the deal.

Players

Aran Scott
Douglas Elliman
Aran Scott
5 deals$19.8M volume
BROKER

Details

SOLD
IMAGE: Aran Scott DATE: 10/22/2021 ADDRESS: 477 14 Street MARKET: Park Slope ASSET TYPE: Multifamily ~ ZONING: R6B BUYER: Julio Gerchman SELLER: Edward Tan BROKER: Aran Scott - Douglas Elliman PRICE: $3,800,000 BSF: 3,684 ~ PPBSF: $1,031 SF: 3,095 ~ PPSF: $1,227 FAR: 1.68 TAX CLASS: 1 LOT SIZE: 1,842 PERMITS: Alteration 1 (11/13/1998) LOT DIMENSION: 18.42 ft x 100 ft

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

$202,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,500.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,013.94
Annual Debt Service$216,167.26