Lawrence Gambino & Victoria Arico Sell Carroll Gardens Multifamily For $5.7M With Brokers Kates & Mashihi
SOLD
$5,700,000
New York
See Similar DealsMultiFamily8,000 SF
Sold 09/09/2025
SOLD
Lawrence Gambino & Victoria Arico Sell Carroll Gardens Multifamily For $5.7M With Brokers Kates & Mashihi
71 1st Place
See Similar DealsMultiFamily8,000 SF
Sold 09/09/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$712
Total Square Footage:8,000 SF
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$304,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90
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