Unicorn Properties Group Acquires Multifamily Asset In Crown Heights For $2M
582 Park Place, Brooklyn, New York 11238, United States
$2,000,000
$512/SF
Building Size
3,900 SF
Asset Type
MultiFamily
Closing
Jun 9, 2022
AI
A multifamily property located at 582 Park Pl. in Crown Heights has been sold for $2,000,000. The property consists of three units with a total square footage of 3,900. The price per unit is approximately $666,666, and the price per square foot is $512.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 582 Park Pl., Crown Heights
- Market: Crown Heights
- Units: 3
- Price per Unit: $666,666
- Square Footage: 3,900
- Price per Square Foot: $512
The buyer of the property is Unicorn Properties Group represented by Itai Nave & Enrico Ferri. The seller is Donna Cerrio.
Unicorn Properties Group is actively seeking 1-5 unit residential properties in Brooklyn, Queens, and Manhattan, with a preference for properties in North-Brooklyn, North-Western Brooklyn, and Central Brooklyn near Prospect Park. They are also interested in properties in Ridgewood, Queens, and Uptown Manhattan. They are specifically looking for single and multi-unit properties that can be rehabilitated, converted into condominiums, or used for residential development with a minimum of 20,000 buildable square feet.
For more information about this property or other opportunities, please contact Itai Nave, the Real Estate Acquisitions representative for Unicorn Properties Group. He can be reached at 718-725-1500 Ext 203 or 516-424-5749, or via email at [email protected]. Unicorn Properties Group is located at 426 Lafayette Ave., Brooklyn, NY 11238.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93