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United Construction & Development Group Acquires Industrial & Development Site In Sunset Park For $21.4M

Property Image
SOLD
$21,400,000
FW
CX

New York

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Industrial74,202 SF
Sold 06/22/2022
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Property Image
SOLD

United Construction & Development Group Acquires Industrial & Development Site In Sunset Park For $21.4M

6201 6th Avenue, Brooklyn, New York 11220, United States

See Similar Deals
Industrial74,202 SF
Sold 06/22/2022
FW
CX
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$288
Total Square Footage:74,202 SF
Transaction Type:Sale

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

CX
United Construction & Development Group
Chris Jiashu Xu
22 deals$655.9M volume
BUYER
United Construction & Development Group
United Construction & Development Group
BUYER
FW
Frank Wong
2 deals$33.4M volume
SELLER

Details

SOLD
IMAGE: Chris Xu DATE: 06/22/2022 ADDRESS: 6201 6th Avenue MARKET: Sunset Park ASSET TYPE: Industrial & Development Site BUYER: United Construction & Development Group - Chris Jiashu Xu & Ki Tai Yeung SELLER: Frank Wong SALE PRICE: $21,400,000 SF: 73,950 ~ PPSF: $289 BSF: 118,860 ~ PPBSF: $180

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,141,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$76,029.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$101,446.92
Annual Debt Service$1,217,363.01