Updated Oct 14, 2026
SOLDMultiFamily
Carlyle & ZG Property Group Acquires Multifamily Property In New York City For $97.5M
8 Marcy Ave Brooklyn, NY 11211, USA
$97,500,000
$903/SF
Building Size
107,903 SF
Asset Type
MultiFamily
Closing
Jul 26, 2023
About this deal
AI
The multifamily property located at 8 Marcy Avenue in New York City has been sold for a total of $97,500,000. The property consists of 123 units, equating to an average price per unit of $792,683. The total square footage of the property is 73,396, with a price per square foot of $1,328.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $97,500,000
- Address: 8 Marcy Avenue, New York City
- Units: 123
- Price per Unit: $792,683
- Square Footage: 73,396
- Price per Square Foot: $1,328
The buyer, Carlyle & ZG Property Group, acquired the property from Prospect Development, represented by Joel Wertzberger and Konstantin Gubareff. The sale was facilitated by a team of brokers consisting of Ethan Stanton, Brendan Maddigan, Michael Mazzara, Stephen Palmese, Winfield Clifford, Jay Leshinsky, Jeffrey Julien, Rob Hinckley, and Steven Rutman from JLL.
On the Map
$97,500,000
$903/SF
MultiFamily
View full map
Players
Prospect DevelopmentBuyer
New York 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93