Li Qing & Caoxia Zhang Acquire Development Site In Borough Park, Brooklyn For $5.6M
1050 41st Street, Borough Park, Brooklyn, NY, USA
$5,600,000
$230/SF
Building Size
24,338 SF
Asset Type
Development Site
Closing
Jan 5, 2020
AI
A development site in Borough Park, Brooklyn has been sold for $5,600,000. The property, located at 1050 41 - 1054 41 St, offers a total square footage of 24,338. The asset type is a development site, making it a prime opportunity for future construction and expansion. The transaction took place on January 6, 2020.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,600,000
- Address: 1050 41 - 1054 41 St, Borough Park, Brooklyn
- Market: Borough Park, Brooklyn
The seller of the property was Isabel Rodriguez & Thomas Kyu, while the buyers were Li Qing & Caoxia Zhang. Brian Ngo represented the sellers as their broker, and Kevin Ma represented the buyers as their broker.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93