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663 Franklin Ave, Brooklyn,...

Chen Family Acquires Mixed-Use Property On Franklin Ave In Crown Heights For $1.8M
SOLD

Chen Family Acquires Mixed-Use Property On Franklin Ave In Crown Heights For $1.8M

663 Franklin Ave, Brooklyn, NY 11238, USA

Building Size

Asset Type

Closing

Oct 3, 2022

AI

The mixed-use property located at 663 Franklin Ave in Crown Heights has been sold in a recent transaction. The property spans a total of 2,160 square feet. The sale price for this transaction was $1,800,000, resulting in a price per square foot of $833.

Summary of transaction details

  • Property Type: Mixed-Use
  • Sale Price: $1,800,000
  • Square Footage: 2,160
  • Price per Square Foot: $833

The buyer of the property was the Chen Family, while the seller was the Bulger Family. The transaction was facilitated by Ryan Perkoski of RPR Ventures, who represented the buyer and seller. Ryan Perkoski acted as the broker in this sale.

Players

T
TrustBuyer

New York CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93