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71 1st Place

Lawrence Gambino & Victoria Arico Sell Carroll Gardens Multifamily For $5.7M With Brokers Kates & Mashihi
SOLDMultiFamily

Lawrence Gambino & Victoria Arico Sell Carroll Gardens Multifamily For $5.7M With Brokers Kates & Mashihi

71 1st Place

$5,700,000

$712/SF

Building Size

8,000 SF

Asset Type

MultiFamily

Closing

Sep 8, 2025

AI

The property involved in this transaction is a multifamily asset located at 71 1st Place in the Carroll Gardens market. The sale transaction was concluded for a total price of $5,700,000. This asset comprises 4 units, with a price per unit of $1,425,000. The total square footage of the building is 8,000, leading to a price per square foot of $712.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,700,000
  • Units: 4
  • Price per Unit: $1,425,000
  • Square Footage: 8,000
  • Price per Square Foot: $712
  • Seller: Lawrence Gambino & Victoria Arico
  • Broker Representatives: Gabriel Kates & Sean Mashihi - Block Real Estate Group

The transaction features Lawrence Gambino and Victoria Arico as the sellers. Gabriel Kates and Sean Mashihi from Block Real Estate Group represented the sellers in this multifamily asset sale, facilitating the transaction in the Carroll Gardens area.

Players

Gabriel Kates
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Gabriel Kates

Block Real Estate Group

Broker

$158.4M

vol

59 deals

Broker
Block Real Estate Group
Block Real Estate GroupBrokerage

Brooklyn 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

2.78%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93