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204 St Marks Ave, Brooklyn,...

Ava Gerber Acquires Prospect Heights Apartment Building From Robert Palmese For $4.39M
SOLDMultiFamily

Ava Gerber Acquires Prospect Heights Apartment Building From Robert Palmese For $4.39M

204 St Marks Ave, Brooklyn, NY 11238, USA

Building Size

93,600 SF

Asset Type

MultiFamily

Closing

Apr 3, 2018

AI

The property located at 592 Vanderbilt Avenue in Prospect Heights, Brooklyn, was sold on May 27, 2022. The apartment building, which falls under the R7A and C1-4 zoning designations, was purchased by Ava Gerber from the seller, Robert Palmese, for a total of $4,395,000.

Summary of transaction details:

  • Property Type: Apartment
  • Transaction Amount: $4,395,000
  • Market: Prospect Heights, Brooklyn

The building has a total floor area of 12,600 square feet, resulting in a price per square foot of $348. With a land area of 3,150 square feet, the property offers ample space for its residents. Notably, the previous sale of the property took place on December 18, 2015, with a recorded price of $3,600,000.

Additionally, an alteration permit was issued on May 7, 2019, indicating modifications made to the property. The lot measures 31.5 feet in width and 100 feet in depth, providing a comfortable size for the building within its surroundings. The property falls under tax class 2B.

Please note that no further details were provided regarding the property's features, amenities, or any additional transactions.

Players

Jonathan Cypers

Broker

$9.6M

vol

8 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93