Faiz Alzoobaee Acquires Mixed Use Property In Brooklyn For $3.2M

A mixed-use property located at 401 5th Avenue in Park Slope, Brooklyn has been sold in a closed transaction. The property consists of three apartments and one store, offering a diverse range of potential uses.

Summary of transaction details

• Property Type: Mixed Use – 3 Apts & 1 Store
• Address: 401 5th Avenue (corner 7th Street)
• City: New York
• Market: Brooklyn
• Neighborhood: Park Slope
• Price: $3,200,000
• Cap Rate: 4.05%
• GRM: 19.5x GRM
• PPSF: $645/sf
• Seller: Louis Meyer
• Buyer: Faiz Alzoobaee
• Broker: BRG | @BestreichRealtyGroup – Adam Lobel, Luke Sproviero and Derek Bestreich

The deal was facilitated by Adam Lobel, Luke Sproviero, and Derek Bestreich of BRG, representing the buyer and seller in this transaction. With a strong presence in the Park Slope area, BRG has successfully closed the deal between Louis Meyer, the seller, and Faiz Alzoobaee, the buyer.