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5406-5408 3rd Avenue

Hui Lan Wu Acquires Industrial Property At 5406-5408 3rd Avenue From David & Steven Schwartz For $2.27M
SOLDIndustrial

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.

Players

Jeffrey A. Shalom

Cushman & Wakefield

Broker

$52.5M

vol

12 deals

Broker

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