Vipul Patel Purchases Office Building From Iftikhar Khan In Park Slope For $3.75M
403 5th Avenue
$3,750,000
$694/SF
Building Size
5,400 SF
Asset Type
Office
Closing
Jan 21, 2026
About this deal
AI
Vipul Patel purchased an office asset located at 403 5th Avenue in Park Slope, Brooklyn. The transaction value amounted to $3,750,000 for a total area of 5,400 square feet, resulting in a price per square foot of $694. The sale was finalized on January 21, 2026, marking a significant move in the Brooklyn office market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,750,000
- Square Footage: 5,400 SF
- Price per Square Foot: $694
- Address: 403 5th Avenue
- Market: Park Slope, Brooklyn
- Buyer: Vipul Patel
- Seller: Iftikhar Khan
The transaction showcased participation from Iftikhar Khan as the seller in the deal, with Vipul Patel acting as the buyer. This acquisition reflects continued interest in the commercial real estate sector within the Park Slope area.
On the Map
$3,750,000
$694/SF
Office
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Players
Brooklyn Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93