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
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