Hui Lan Wu Acquires Industrial Property At 5406-5408 3rd Avenue From David & Steven Schwartz For $2.27M
SOLD
$2,270,000
New York
See Similar DealsIndustrial4,789 SF
Sold 11/27/2024
SOLD
Hui Lan Wu Acquires Industrial Property At 5406-5408 3rd Avenue From David & Steven Schwartz For $2.27M
5406-5408 3rd Avenue
See Similar DealsIndustrial4,789 SF
Sold 11/27/2024
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$474
Total Square Footage:4,789 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$121,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,064.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,760.96
Annual Debt Service$129,131.50
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