Perez-Meyer Family Acquires Multifamily Property In Park Slope, Brooklyn For $3.1M
555 9th Street
$3,100,000
$976/SF
Building Size
3,176 SF
Asset Type
MultiFamily
Closing
Jul 12, 2022
AI
The multifamily property located at 555 9th St. in Park Slope, Brooklyn has been sold for $3,100,000. The property spans across 3,176 square feet, resulting in a price per square foot of $976.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $3,100,000
- Square Footage: 3,176
- Price per Square Foot: $976
- Buyer: Perez-Meyer Family
- Seller: Estate of Giuseppa Gioino
- Brokers: Mark Zarrella & Shaun Riney - Marcus & Millichap
In this transaction, the buyer was the Perez-Meyer Family, while the seller was the Estate of Giuseppa Gioino. Representing both parties in the deal were Mark Zarrella and Shaun Riney from Marcus & Millichap. They successfully facilitated the sale of the property.
It is worth noting that the listing brokers, Mark Zarrella and Shaun Riney, have a portfolio of free-market apartments within 2 blocks of Prospect Park on the private market. For more information, interested parties can contact Shaun at 718-475-4369 or Mark at 718-475-4376.
Additional details about the property include its proximity to Prospect Park and the potential for renovation at an assumed cost of $225 per square foot, which would amount to approximately $1,201 in additional expenses.
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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93