Marcus & Millichap Sells Park Slope Multifamily Building For $3.6M With Seller's Rep The Matheos Family
SOLD
$3,600,000
+ 2
New York
See Similar DealsMultiFamily5,000 SF
Sold 06/02/2023
SOLD
Marcus & Millichap Sells Park Slope Multifamily Building For $3.6M With Seller's Rep The Matheos Family
88 5th Ave New York, NY 10003, USA
See Similar DealsMultiFamily5,000 SF
Sold 06/02/2023
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$720
Total Square Footage:5,000 SF
Transaction Type:Sale
The multifamily property located at 88 5th Avenue in Park Slope was recently sold for $3,600,000. The property consists of 7 units with an average price per unit of $514,286. The total square footage of the property is 5,000, with an average price per square foot of $720. The sale was completed by The Matheos Family, with representation from Shaun Riney, Andrew Bronsteen, Mark Zarella from Marcus & Millichap, and Matthew Cosentino from Terra CRG.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Units: 7
- Price per Unit: $514,286
- Square Footage: 5,000
- Price per Square Foot: $720
- Address: 88 5th Avenue
- Market: Park Slope
The sale of this multifamily property was facilitated by Shaun Riney, Andrew Bronsteen, Mark Zarella from Marcus & Millichap, and Matthew Cosentino from Terra CRG. These brokers represented The Matheos Family throughout the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$192,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04
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