Fei Chen Acquires Mixed-Use Property In Ditmas Park For $1.4M
SOLD
$1,425,000
New York
See Similar DealsMixed-use2,678 SF
Sold
SOLD
Fei Chen Acquires Mixed-Use Property In Ditmas Park For $1.4M
1607 Cortelyou Road, Brooklyn, New York 11226, United States
See Similar DealsMixed-use2,678 SF
Sold
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$532
Total Square Footage:2678 SF
Transaction Type:Sale
The mixed-use property located at 1607 Cortelyou Rd. in Ditmas Park has been sold for $1,425,000. The property spans 2,678 square feet, resulting in a price per square foot of $532. The sale took place on March 23, 2022. The property features a versatile layout that can accommodate both residential and commercial tenants.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,425,000
- Square Footage: 2,678
- Price per Square Foot: $532
- Address: 1607 Cortelyou Rd.
- Market: Ditmas Park
The buyer of the property is Fei Chen, while the seller is Shu Law. The transaction was facilitated by Erik Rodriguez from Rodriguez Commercial Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$76,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,062.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,755.23
Annual Debt Service$81,062.72
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