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555 9th Street

Updated Oct 28, 2024

Bilt advertisement
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

About this deal

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

382 deals

Broker
E
EstateSeller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $976 per square foot on a published $3.1M for 3,176 square feet (2022).

Visit Mark Zarrella to view all their deals.

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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

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