Updated Sep 5, 2024
Mamounas Family Acquires Multifamily Property On 5th Avenue For $2.1M
584 5th Ave New York, NY 10036, USA
$2,100,000
$617/SF
Building Size
3,400 SF
Asset Type
MultiFamily
Closing
Jun 16, 2023
About this deal
AI
The multifamily property located at 584 5th Avenue in Park Slope has been sold in a recent transaction. The property spans 3,400 square feet and was sold for a price of $2,100,000. With a price per square foot of $618, this property offers a valuable investment opportunity in the Park Slope market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Square Footage: 3,400
Mamounas Family is the buyer of the property, while the Powers Family is the seller. The transaction was facilitated by Marcel Fridman from the Barcel Group. This deal demonstrates the involvement of these key individuals and their respective roles in the successful sale of the property.
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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93