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1781 Ocean Ave Brooklyn, NY...

Eddie Chung Acquires Mixed-Use Property On Ocean Avenue In New York City For $3.45M
SOLDMixed-use

Eddie Chung Acquires Mixed-Use Property On Ocean Avenue In New York City For $3.45M

1781 Ocean Ave Brooklyn, NY 11230, USA

$3,450,000

$513/SF

Building Size

6,720 SF

Asset Type

Mixed-use

Closing

May 19, 2023

AI

A mixed-use property located at 1781 Ocean Avenue in New York City has been sold for a price of $3,450,000. The property spans over 6,720 square feet, resulting in a price per square foot of $513. The sale was completed on 05/19/2023.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $3,450,000
  • Address: 1781 Ocean Avenue
  • Market: New York City
  • Square Footage: 6,720
  • Price per Square Foot: $513

Eddie Chung served as the buyer in this transaction, while JBS Realty acted as the seller. The deal was facilitated by the broker representatives Brian Whelan, Alix Curtin, and Jermaine Pugh from B6 Real Estate Advisors.

Players

Brian Whelan

Ripco

Broker

$137M

vol

30 deals

Broker

Eddie Chung

Buyer

$10.2M

vol

2 deals

Buyer
JR
JBS RealtySeller

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

4.60%

Cash-on-Cash

-1.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93