Updated Dec 21, 2023
Tommaso Cascella Acquires Multifamily Property In Park Slope, Brooklyn For $5.4M
596 2nd Street, Brooklyn, New York 11215, United States
$5,365,000
$1,192/SF
Building Size
4,498 SF
Asset Type
MultiFamily
Closing
Jun 30, 2022
About this deal
AI
The multifamily property located at 596 2nd Street in Park Slope, Brooklyn has been sold. The transaction took place on July 1, 2022. The property is zoned as R7B and has a total of 5,463 square feet of buildable space. It is classified as tax class 1 and has a lot size of 1,821 square feet. The property underwent an alteration permit on March 2, 2021. The lot dimension measures 19.17 feet by 95 feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,365,000
- Price per Buildable Square Foot: $982
- Total Square Footage: 4,498
- Price per Square Foot: $1,192
- Floor Area Ratio (FAR): 2.47
- Buyer: Tommaso Cascella
- Seller: John Meils
The buyer in this transaction is Tommaso Cascella, while the seller is John Meils.
Players
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.96%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93