Updated Oct 28, 2024
Conway Capital Acquires Multifamily Property In Park Slope For $6.75M
566 7th Street, Brooklyn, New York 11215, United States
$6,750,000
$634/SF
Building Size
10,636 SF
Asset Type
MultiFamily
Closing
Jul 14, 2022
About this deal
AI
Located in Park Slope, the multifamily property at 566 7th St. recently changed hands in a sale transaction. The property consists of 16 units with a total square footage of 10,636. The sale price for this transaction was $6,750,000, resulting in a per unit price of $421,875 and a price per square foot of $634. The seller of the property was the Stein Family Trust.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,750,000
- Units: 16
- Price per Unit: $421,875
- Total Square Footage: 10,636
- Price per Square Foot: $634
The buyer in this transaction was Conway Capital, represented by Connor Domershick and Max Maleh, along with Joel J. Gorjian of Gorjian Acquisitions. The broker involved in this deal was Michael Sherman of Baseline Real Estate Advisors. These individuals and companies played a crucial role in facilitating the transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Michael Sherman to view all their deals.
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93