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5121 8th Avenue

Updated Dec 4, 2024

Xiu Gan Zheng Acquires Sunset Park Mixed-Use Property From Chi Han Woo For $3M
SOLDMixed-use

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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Deal FAQ

About $848 per square foot on a published $3M for 3,534 square feet (2023).

Browse Brooklyn mixed use sales on Traded.

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

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