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555 9th Street

Perez-Meyer Family Acquires Multifamily Property In Park Slope, Brooklyn For $3.1M
SOLDMultiFamily

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:

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

Mark Zarrella

Marcus & Millichap

Broker

$262.2M

vol

38 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.9B

vol

375 deals

Broker
E
EstateSeller

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