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70 Prospect Park West, Park...

Updated Oct 29, 2024

Greg Fournier And Fred LeCao Of Greenbrook Partners Acquire Multifamily Property In Park Slope For $15M
SOLDMultiFamily

Greg Fournier And Fred LeCao Of Greenbrook Partners Acquire Multifamily Property In Park Slope For $15M

70 Prospect Park West, Park Slope, Brooklyn, NY, USA

$15,000,000

$409/SF

Building Size

36,634 SF

Asset Type

MultiFamily

Closing

Mar 18, 2021

About this deal

AI

70 Prospect Park West in Park Slope has been sold in a recent transaction. The multifamily property was purchased for $15,000,000 by Greg Fournier and Fred LeCao from Greenbrook Partners. The transaction was facilitated by Adam Hess and Edward Setton from Meridian Capital Group. The property spans 36,634 square feet and has a selling price of $409 per square foot. The zoning for the property is R7A.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $15,000,000
  • Address: 70 Prospect Park West
  • Market: Park Slope
  • Square Footage: 36,634
  • Price per Square Foot: $409

This successful transaction highlights the high demand for core assets in Brownstone Brooklyn. The market is showing signs of increased transaction volume, indicating a positive outlook for the real estate market in Brooklyn and New York City in 2021. Greg Fournier, Fred LeCao, Adam Hess, and Edward Setton played key roles in this deal, ensuring its successful completion.

Players

Edward Setton

Sterling Property Group NY

Broker

$251.4M

vol

55 deals

Broker

Greg Fournier

Greenbrook Partners

Buyer

$614.6M

vol

21 deals

Buyer
Greenbrook Partners
Greenbrook PartnersBuyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $409 per square foot on a published $15M for 36,634 square feet (2021).

Visit Edward (Eddie) Setton to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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