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812 8th Avenue Brooklyn, Ne...

Carlyle Group Acquires Multifamily Property In Park Slope, Brooklyn For $12.7M
SOLDMultiFamily

Carlyle Group Acquires Multifamily Property In Park Slope, Brooklyn For $12.7M

812 8th Avenue Brooklyn, New York 11215, USA

$12,733,706

$1,209/SF

Building Size

10,532 SF

Asset Type

MultiFamily

Closing

May 25, 2023

AI

The Carlyle Group, represented by Carter Martin, has acquired a multifamily property located at 812 8th Avenue in Park Slope, Brooklyn. The 16-unit residential walkup building was purchased from Greenbrook Partners, represented by Gregory Fournier, for a sale price of $12,733,706. The property offers 10,532 square feet of built space and 753 square feet of additional air rights, with a total buildable area of 11,295 square feet. The transaction resulted in a price per unit of $795,856 and a price per square foot of $1,209.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $12,733,706
  • Units: 16
  • PPU: $795,856
  • BSF: 11,295
  • PPBSF: $1,127
  • SF: 10,532
  • PPSF: $1,209

The Carlyle Group, led by Carter Martin, successfully completed the acquisition of the 16-unit residential walkup building located at 812 8th Avenue in Park Slope, Brooklyn. Greenbrook Partners, represented by Gregory Fournier, acted as the seller in this transaction. With a sale price of $12,733,706, the property offers a total buildable area of 11,295 square feet, including 753 square feet of additional air rights. This acquisition further expands Carlyle Group's multifamily portfolio in the Park Slope market.

Players

Carter Martin

Carlyle Group

Buyer

$146M

vol

28 deals

Buyer

Greg Fournier

Greenbrook Partners

Seller

$607.1M

vol

19 deals

Seller

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

1.25%

Cash-on-Cash

-0.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93