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74 1st Place

The Mousaf Family Acquires Multifamily Portfolio In Carroll Gardens & Park Slope For $15.2M
SOLDMultiFamily

The Mousaf Family Acquires Multifamily Portfolio In Carroll Gardens & Park Slope For $15.2M

74 1st Place, 302 5th Street, 710 Degraw Street & 228 Livingston Street

$15,200,000

$234/SF

Building Size

64,936 SF

Asset Type

MultiFamily

Closing

Dec 27, 2023

AI

Multifamily property located in Carroll Gardens & Park Slope has been sold in a closed transaction. The property consists of 16 units with a total square footage of 16,234. The sale price for the property was $15,200,000, resulting in a per unit price of $950,000. The price per square foot for the property was calculated at $936.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $15,200,000
  • Units: 16
  • Price Per Unit: $950,000
  • Square Footage: 16,234
  • Price Per Square Foot: $936

The Mousaf Family has acquired the property. Michael Sherman from Baseline Real Estate Advisors represented the seller, while Patrick Nollinger from Real New York represented the buyer in the transaction.

Players

Michael Sherman

Baseline Real Estate Advisors

Broker

$785.1M

vol

45 deals

Broker

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

1.04%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93