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Edward Riew Acquires Single Family Home In Park Slope, Brooklyn For $3.1M

Property Image
SOLD
$3,800,000

New York

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Single Family Residence1,917 SF
Sold 07/14/2022
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Property Image
SOLD

Edward Riew Acquires Single Family Home In Park Slope, Brooklyn For $3.1M

383 6th Street, Brooklyn, New York 11215, United States

See Similar Deals
Single Family Residence1,917 SF
Sold 07/14/2022
Contact now

Summary

NEW YORK
Asset Type:Single Family Residence
Price Per Square Foot:$1,982
Total Square Footage:1,917 SF
Transaction Type:Sale

The single-family property at 357 5th Street in Park Slope, Brooklyn has been sold for $3,100,000. Situated on a 2,000 square foot lot with dimensions of 20 ft x 100 ft, the property features 2,700 square feet of space. The buyer, Edward Riew, completed the transaction on 11/17/2022, purchasing the property from seller Steven Ross. With a buildable square footage (BSF) of 4,000, the price per buildable square footage (PPBSF) comes to $775. The price per square foot (PPSF) for the existing space is $1,148. The property falls under tax class 1 and the zoning designation is R6B, with a FAR (Floor Area Ratio) of 1.35.

Summary of transation details

  • Property Type: Single Family
  • Transaction Amount: $3,100,000
  • Market: Park Slope, Brooklyn
  • Buyer: Edward Riew
  • Seller: Steven Ross
  • BSF: 4,000
  • PPBSF: $775
  • SF: 2,700
  • PPSF: $1,148
  • Tax Class: 1
  • Zoning: R6B
  • Lot Size: 2,000
  • Lot Dimension: 20 ft x 100 ft

Note: No additional information is available regarding this transaction.

Players

4 deals$5.2M volume
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Details

SOLD
IMAGE: 11/17/2022 ADDRESS: 357 5th Street MARKET: Park Slope, Brooklyn ASSET TYPE: Single Family ~ ZONING: R6B BUYER: Edward Riew SELLER: Steven Ross PRICE: $3,100,000 BSF: 4,000 ~ PPBSF: $775 SF: 2,700 ~ PPSF: $1,148 FAR: 1.35 TAX CLASS: 1 LOT SIZE: 2,000 LOT DIMENSION: 20 ft x 100 ft

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$202,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,500.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,013.94
Annual Debt Service$216,167.26