Bill Chan & Joel Radmin Acquire Mixed-Use Property On 5th Ave. In Sunset Park
4613 5th Avenue, Brooklyn, New York 11220, United States
$4,668,000
$516/SF
Building Size
9,034 SF
Asset Type
Mixed-use
Closing
Jun 23, 2022
AI
A mixed-use property located at 4613 5th Ave. & 4624 5th Ave. in Sunset Park was recently sold for a total of $4,668,000. The property spans an area of 9,034 square feet, resulting in a price per square foot of $516. The transaction took place on June 24, 2022. The seller of the property was the Nieves Family, while the buyers were Bill Chan and Joel Radmin.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,668,000
- Square Footage: 9,034
- Price Per Square Foot: $516
- Address: 4613 5th Ave. & 4624 5th Ave.
- Market: Sunset Park
The deal was facilitated by John Brennan and Matt Dittmeier from Marcus & Millichap, representing the buyers, Bill Chan and Joel Radmin. These brokers played a crucial role in the successful completion of the transaction.
Players
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
3.40%
Cash-on-Cash
-0.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93