Updated Dec 18, 2023
Investment Property Realty Group Sells Multifamily Property In Park Slope For $6.1M
806 President Street, Brooklyn, New York 11215, United States
$6,100,000
$1,499/SF
Building Size
4,068 SF
Asset Type
MultiFamily
Closing
Oct 31, 2022
About this deal
AI
Located in the desirable neighborhood of Park Slope, this multifamily property at 806 President Street recently changed hands in a closed transaction. Spanning 4,068 square feet, the property is ideally situated for residents looking for a comfortable and convenient living space in this vibrant area.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $6,100,000
- Address: 806 President Street
- Market: Park Slope
Representing the buyer in this transaction was Ari Harkov from The Harkov Lewis Team, while the seller was expertly represented by Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring from Investment Property Realty Group (IPRG). These skilled professionals played a pivotal role in ensuring a successful sale.
The property was sold for a price of $6,100,000, translating to a price per square foot of $1,500. With its prime location in Park Slope and its appealing multifamily design, this transaction represents a significant investment opportunity for the new owner.
Players
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
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93