Fei Chen Acquires Mixed-Use Property In Ditmas Park For $1.4M
1607 Cortelyou Road, Brooklyn, New York 11226, United States
$1,425,000
$532/SF
Building Size
2,678 SF
Asset Type
Mixed-use
Closing
Mar 22, 2022
AI
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.
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.13%
Cash-on-Cash
-3.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93