Updated Aug 7, 2026
Marc Kline Acquires Multifamily Property At 505 1st Street In Park Slope For $7.15M
505 1st Street
$7,150,000
$1,835/SF
Building Size
3,896 SF
Asset Type
MultiFamily
Closing
Jul 15, 2026
About this deal
AI
A multifamily property located at 505 1st Street in Park Slope, Brooklyn, was sold for $7.15 million. The property encompasses a total area of 3,896 square feet, resulting in a price per square foot of $1,835. This transaction highlights the ongoing strong demand for townhouse-scale residential assets in the submarket.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $7,150,000
- Square Footage: 3,896
- Price Per Square Foot: $1,835
- Address: 505 1st Street
- Market: Park Slope, Brooklyn
- Buyer: Marc Kline
- Seller: Todd Schwartz
Marc Kline acquired the property from Todd Schwartz, indicating a transaction driven by the current market dynamics for residential properties in this popular Brooklyn neighborhood.
Players
Brooklyn 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
2.22%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93