Tian Fu Chen Acquires Mixed-Use Property In Sunset Park For $2.5M
4306 8th Avenue
$2,500,000
$757/SF
Building Size
3,300 SF
Asset Type
Mixed-use
Closing
Sep 1, 2022
About this deal
AI
The asset involved in this transaction is a mixed-use property located at 4306 8th Ave. in the Sunset Park market. The asking price was $2,500,000, and the sale price was also $2,500,000. The property measures 3,300 square feet, resulting in a price per square foot of $757.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,500,000
- Address: 4306 8th Ave.
- Market: Sunset Park
- Square Footage: 3,300
- Price per Square Foot: $757
- Buyer: Tian Fu Chen
- Seller: Bein Lau
- Brokers: Vito Angelo & Billy Apter - RE/MAX Real Estate
The deal was represented by Vito Angelo and Billy Apter from RE/MAX Real Estate, indicating their roles as brokers within this transaction. The involvement of these brokers showcases their expertise in handling such deals within the market.
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93