Updated Sep 9, 2024
Ming Li Acquires Multifamily Property On 4th Avenue In Park Slope, Brooklyn For $2.8M
53 4th Avenue, Park Slope, Brooklyn, NY, USA
$2,800,000
$648/SF
Building Size
4,320 SF
Asset Type
MultiFamily
Closing
Aug 25, 2021
About this deal
AI
The multifamily property located at 53 4th Avenue in Park Slope, Brooklyn has been sold. The transaction took place on 08/25/2021 in a deal facilitated by Bobby Lawrence from B6 Real Estate. The buyer, Ming Li, purchased the property from the seller, John Holman, for a total sale price of $2,800,000. The property has a total square footage of 4,320 and a price per square foot of $648. The building has a buildable square footage of 9,632 and a price per buildable square foot of $290.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,800,000
- Address: 53 4th Avenue, Park Slope, Brooklyn
- Market: Park Slope, Brooklyn
- Tax Class: 2A
Bobby Lawrence from B6 Real Estate represented both the buyer, Ming Li, and the seller, John Holman, in this transaction. This sale highlights the continued demand for multifamily properties in the Park Slope area of Brooklyn.
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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93