Li Qing & Caoxia Zhang Acquire Development Site In Borough Park, Brooklyn For $5.6M
SOLD
$5,600,000
New York
See Similar DealsDevelopment Site24,338 SF
Sold 01/06/2020
SOLD
Li Qing & Caoxia Zhang Acquire Development Site In Borough Park, Brooklyn For $5.6M
1050 41st Street, Borough Park, Brooklyn, NY, USA
See Similar DealsDevelopment Site24,338 SF
Sold 01/06/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$230
Total Square Footage:24,338 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$298,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,895.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,546.86
Annual Debt Service$318,562.28
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