Updated Oct 29, 2024
Cohabs Acquires Multifamily Property On Park Place For $2.775M
517 Park Pl Brooklyn, NY 11238, USA
$2,775,000
$571/SF
Building Size
4,860 SF
Asset Type
MultiFamily
Closing
Sep 1, 2023
About this deal
AI
A multifamily property located at 517 Park Place in Crown Heights, Brooklyn has been sold for a price of $2,775,000. The property consists of four units with an average price per unit of $693,750. The total square footage of the property is 4,860, resulting in a price per square foot of $571.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,775,000
- Units: 4
- Price per Unit: $693,750
- Square Footage: 4,860
- Price per Square Foot: $571
- Address: 517 Park Place, Crown Heights, Brooklyn
The buyer of the property is Cohabs, represented by James Grasso. The seller of the property is the Williams Family. The transaction was facilitated by Marcel Fridman from the Barcel Group, who acted as the broker in the deal.
On the Map
$2,775,000
$571/SF
MultiFamily
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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
5.72%
Cash-on-Cash
-1.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93