Updated Dec 19, 2023
Lee Fung Fong Acquires Industrial Property In East Williamsburg For $6.61M
179 Stewart Avenue, Brooklyn, New York 11237, United States
$6,610,000
$421/SF
Building Size
15,700 SF
Asset Type
Industrial
Closing
Jun 20, 2022
About this deal
AI
The industrial property located at 179 Stewart Avenue in East Williamsburg has been sold. The sale took place on June 21, 2022, with a sale price of $6,610,000. The property spans 15,700 square feet, resulting in a price per square foot of $421. The buyer, Lee Fung Fong, acquired the property from the seller, Thomas Ng.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $6,610,000
- Address: 179 Stewart Avenue, East Williamsburg
- Market: East Williamsburg
- Buyer: Lee Fung Fong
- Seller: Thomas Ng
- Square Footage: 15,700
- Price per Square Foot: $421
The deal was facilitated by Lee Fung Fong's representative agency.
Players
New York 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
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93