Xiu Gan Zheng Acquires Sunset Park Mixed-Use Property From Chi Han Woo For $3M
5121 8th Avenue
$3,000,000
$848/SF
Building Size
3,534 SF
Asset Type
Mixed-use
Closing
Sep 20, 2023
About this deal
AI
An four-unit mixed-use building located at 5121 8th Avenue in Sunset Park, Brooklyn has been sold for $3 million. The property, with a total square footage of 3,534, was purchased by Xiu Gan Zheng's entity 5121 Brooklyn Inc. The seller, Chi Han Woo's entity Anita & Monica LLC, agreed to the transaction. The price per square foot for the property is $849.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,000,000
- Address: 5121 8th Avenue, Sunset Park, Brooklyn
- Buyer: Xiu Gan Zheng
- Seller: Chi Han Woo
- Square Footage: 3,534
- Price per Square Foot: $849
Xiu Gan Zheng, through the entity 5121 Brooklyn Inc., successfully acquired the four-unit mixed-use building from Chi Han Woo's entity Anita & Monica LLC for $3 million. The transaction marks an important milestone for both buyer and seller in the real estate market.
Players
Brooklyn 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93