SOLD
Marcus & Millichap And Corcoran Broker Multifamily Sale In Park Slope For $20M
575 3rd Street
MultiFamily
33,920 SF
33,920 SF
Sold 1 year ago
Summary
Sale
NEW YORK
MultiFamily
33,920 sqft
The multifamily property located at 575 3rd St. in Park Slope has been sold for a total of $20,000,000. The property spans an area of 33,920 square feet, resulting in a price per square foot of $590. It consists of 36 units, bringing the price per unit to $555,556.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Address: 575 3rd St.
- Market: Park Slope
The sale was facilitated by multiple brokers. Mark Zarrella and Shaun Riney of Marcus & Millichap, Wassim Fakhereddine of Corcoran, and Andrew Dansker of Dansker Capital Group were involved in the transaction. Corcoran listed the property, while Marcus & Millichap represented the buyer. Andrew Dansker arranged the financing for the deal through a non-local boutique bank, securing a multi-year interest-only loan with a sub-4% interest rate. Notably, this was the buyer's first multifamily loan within New York City.
These details provide insights into the key individuals and companies involved in the transaction, as well as specific financing arrangements for the deal.
Players
All
6
Agents
4
Agencies
2
Details
SOLD
IMAGE: Mark Zarrella, Shaun Riney, Wassim Fakhereddine & Andrew Dansker
DATE: 06/27/2022
ADDRESS: 575 3rd St.
MARKET: Park Slope
ASSET TYPE: Multifamily
BROKERS: Mark Zarrella (@MarkZarrella) & Shaun Riney (@ShaunRiney1) - Marcus & Millichap (@MarcusMillichap_NY), Wassim Fakhereddine (@Wassim_Realty) - Corcoran (@TheCorcoranGroup) & Andrew Dansker (@DanskerCapitalGroup) - Dansker Capital Group (@DanskerCapitalGroup)
SALE PRICE: $20,000,000
SF: 33,920 ~ PPSF: $590
UNIT: 36 ~ PPU: $555,556
NOTE FROM BROKER: The property was listed by Corcoran & Marcus & Millichap brought the buyer. The cap rate at contract signing was 3.10% off T12 expenses & in-place rents. Andrew Dansker of Dansker Capital arranged the financing for the deal through a non-local boutique bank that provided the buyer with multi-year I/O & a sub-4% interest rate on what was their first multifamily loan inside of NYC.View on map
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Address575 3rd Street
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