Hui Lan Wu Acquires Industrial Property At 5406-5408 3rd Avenue From David & Steven Schwartz For $2.27M
5406-5408 3rd Avenue
$2,270,000
$474/SF
Building Size
4,789 SF
Asset Type
Industrial
Closing
Nov 27, 2024
AI
The property involved in the transaction is an industrial asset located at 5406-5408 3rd Avenue in Brooklyn. It was sold for a total price of $2,270,000, encompassing a total square footage of 4,789. This results in a price per square foot of $474.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,270,000
- Square Footage: 4,789
- Price Per Square Foot: $474
- Buyer: Hui Lan Wu
- Seller: David & Steven Schwartz
- Broker: Jeffrey A. Shalom - Cushman & Wakefield
The transaction features Hui Lan Wu as the buyer and David & Steven Schwartz as the sellers. Jeffrey A. Shalom from Cushman & Wakefield served as the broker representing the buyer in this deal.
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
6.99%
Cash-on-Cash
-2.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93