Chun Lee Acquires Commercial Property On 276 Fifth Avenue For $4.1M
276 5th Ave, 276 5th Ave, New York City, New York 10001, United States
$4,100,000
$30/SF
Building Size
133,300 SF
Asset Type
Commercial
Closing
Mar 22, 2022
AI
A commercial property located at 276 Fifth Avenue in the NoMad neighborhood of Brooklyn has been sold in a recent transaction. The property, with a zoning designation of C5-2/M1-6, offers an attractive opportunity for commercial development.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $4,100,000
- Square Footage: 133,300
- Price per Square Foot: $30
- Lot Size: 14,812
- Lot Dimension: 98.75 ft x 150 ft
The buyer of the property is Chun Lee, while the seller is Juan Nunez. This transaction highlights the presence of active investors in the real estate market, looking to capitalize on the potential of properties in the NoMad area.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93