Updated Dec 20, 2023
Yiming Wang Acquires Industrial Property In Bushwick, Brooklyn For $3.5M
31 Belvidere Street, Bushwick, Brooklyn, NY, USA
$3,500,000
$992/SF
Building Size
3,526 SF
Asset Type
Industrial
Closing
Apr 20, 2021
About this deal
AI
An industrial property located at 31 Belvedere Street in Bushwick, Brooklyn has been sold for a price of $3,500,000. The property spans a total area of 5,110 square feet and has a price per square foot of $684. The building itself covers an area of 3,526 square feet, resulting in a price per square foot of $992. The property has a floor area ratio (FAR) of 0.69 and falls under tax class 4. It is situated on a lot measuring 5,097 square feet with dimensions of 49.83 ft x 102.85 ft.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,500,000
- Market: Bushwick, Brooklyn
- Zoning: M1-1
- Buyer: Yiming Wang
- Seller: Lisa Schachner
Yiming Wang acted as the buyer in this transaction, while Lisa Schachner served as the seller. The deal was completed on April 21, 2021. There are no additional details available regarding brokers or representatives involved in the transaction.
Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93