United Construction & Development Group Acquires Industrial & Development Site In Sunset Park For $21.4M
6201 6th Avenue, Brooklyn, New York 11220, United States
$21,400,000
$288/SF
Building Size
74,202 SF
Asset Type
Industrial
Closing
Jun 21, 2022
AI
An industrial and development site located at 6201 6th Avenue in Sunset Park has been sold for a total price of $21,400,000. The property spans 73,950 square feet, resulting in a price per square foot of $289. With a total built square footage of 118,860, the price per built square foot is $180. The transaction took place on June 22, 2022, and the seller of the property was Frank Wong.
Summary of transaction details
- Property Type: Industrial & Development Site
- Transaction Amount: $21,400,000
- Address: 6201 6th Avenue
- Market: Sunset Park
The buyer of the property is United Construction & Development Group, represented by Chris Jiashu Xu & Ki Tai Yeung. Chris Xu and Ki Tai Yeung, along with their company, acquired the industrial and development site from Frank Wong. This sale marks a significant transaction in the Sunset Park market.
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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93