Updated Sep 9, 2024
Meridian Capital Group Brokers Park Slope, Prospect Heights Multifamily Sale For $12.1M
558 11th St, Park Slope, Brooklyn, NY, USA
$12,100,000
$422/SF
Building Size
28,664 SF
Asset Type
MultiFamily
Closing
Feb 22, 2021
About this deal
AI
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.
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
1.31%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93