Meridian Capital Group Brokers Park Slope, Prospect Heights Multifamily Sale For $12.1M

An multifamily property located at 558 11th St. & 269 Prospect Pl. in Park Slope, Prospect Heights was recently sold for $12,100,000. The property consists of 52 units with an average price per unit of $232,692. The total square footage of the property is 28,664, translating to a price per square foot of $422. The transaction took place on February 23, 2021, and the property was sold at a 5.5% capitalization rate.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $12,100,000
• Units: 52
• Price per Unit: $232,692
• Square Footage: 28,664
• Price per Square Foot: $422
• Capitalization Rate: 5.5%

The sale of this multifamily property was facilitated by Adam Hess and Edward Setton from the Meridian Capital Group. They represented the buyer and seller in this transaction.