Bill Chan & Joel Radmin Acquire Mixed-Use Property On 5th Ave. In Sunset Park
SOLD
$4,668,000
New York
See Similar DealsMixed-use9,034 SF
Sold 06/24/2022
SOLD
Bill Chan & Joel Radmin Acquire Mixed-Use Property On 5th Ave. In Sunset Park
4613 5th Avenue, Brooklyn, New York 11220, United States
See Similar DealsMixed-use9,034 SF
Sold 06/24/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$516
Total Square Footage:9,034 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$248,959.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,584.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,128.70
Annual Debt Service$265,544.42
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