Vjm 700, LLC pays $5M to Prospect Park Management for property in Park Slope

Vjm 700, LLC paid Prospect Park Management, LLC $5.1 million for 238 5th Avenue in Park Slope. The deal closed on September 18, 2019, and was recorded on October 17, 2019. The transaction consists of 1 parcel, including the tax class primarily five to six family with store or office (S5) and containing 6 residential units. The property is 9,188 square feet. The parcel(s) have total development potential of 9,188 square feet.
The average sale price per square foot is $641.
The estimated cap rate is 7.2%

Direct link to Acris document. link
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