SOLD
Marcus & Millichap, Meridian Capital Group, And Mark Zarrella & Joe Koicim Sell Multifamily Property In South Slope, Brooklyn For $10.3M
572 5th Avenue
MultiFamily
18,872 SF
18,872 SF
Sold 1 year ago
Summary
Sale
NEW YORK
MultiFamily
18,872 sqft
The multifamily property located at 572 5th Ave. in South Slope, Brooklyn has been sold for a total of $10,275,000. The property spans across 18,872 square feet, resulting in a price per square foot of $544. This transaction took place on 05/10/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,275,000
- Address: 572 5th Ave.
- Market: South Slope, Brooklyn
The sale of this property was facilitated by the brokers involved in the deal. Mark Zarrella, Joe Koicim, and Shaun Riney from Marcus & Millichap, along with Judah Hammer from Meridian Capital Group, represented the parties in this transaction.
It is worth mentioning that the property benefits from a 421A exemption, with 16 years remaining before it fully burns off in 2037. Judah Hammer of Meridian Capital Group successfully arranged financing for the purchaser at a sub-3.5% interest rate with multiple years I/O.
Players
All
6
Agents
4
Agencies
2
Details
SOLD
IMAGE: Mark Zarrella, Shaun Riney, Joe Koicim & Judah Hammer
DATE: 05/10/2022
ADDRESS: 572 5th Ave.
MARKET: South Slope, Brooklyn
ASSET TYPE: Multifamily
BROKERS: Mark Zarrella (@MarkZarrella), Joe Koicim (@Joey1CAP) & Shaun Riney (@ShaunRiney1) - Marcus & Millichap (@MarcusMillichap_NY) & Judah Hammer - Meridian Capital Group (@Meridian.Capital.Group)
SALE PRICE: $10,275,000
SF: 18,872 ~ PPSF: $544
NOTE FROM BROKERS: The property benefits from a 421A exemption with 16 years remaining before fully burning off in 2037. Judah Hammer of Meridian Capital Group successfully arranged financing for the purchaser at a sub-3.5% interest rate with multiple years I/O.View on map
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Address572 5th Avenue
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