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4613 5th Avenue, Brooklyn, ...

Bill Chan & Joel Radmin Acquire Mixed-Use Property On 5th Ave. In Sunset Park
SOLDMixed-use

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

John Brennan

Marcus & Millichap

Broker

$190.2M

vol

74 deals

Broker

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