Frank Picone Acquires South Slope Multifamily Property For $2.365M
414 Prospect Avenue
MultiFamily
48,760 SF
48,760 SF
Sold 1 year ago
Summary
The multifamily property located at 414 Prospect Avenue in South Slope, Brooklyn, NY has been sold. The property spans 4,876 square feet and was sold for a price of $2,365,000, resulting in a price per square foot of $485. The transaction was completed at a rate of $394,167 per unit, with a capitalization rate of 5.10% and a gross rent multiplier of 14.39.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $2,365,000
- Square Footage: 4,876 SF
- Price Per Square Foot: $485
- Price Per Unit: $394,167
- Capitalization Rate: 5.10%
- Gross Rent Multiplier: 14.39
The seller of the property was Jill Merritt, while the buyer was Frank Picone. John Brennan and Richard Sodeke, representing their respective broker agency, were responsible for facilitating the transaction.
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3
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1
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414 Prospect Avenue
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