Kit Hong Lai Acquires Retail Property In Brooklyn For $4.68M
5805 8th Ave, Brooklyn, NY, USA
$4,680,000
$1,444/SF
Building Size
3,239 SF
Asset Type
Mixed-use
Closing
Dec 21, 2020
About this deal
AI
A retail property located at 5805 8th Ave in Brooklyn was sold on December 22, 2020. The property has a total square footage of 3,239 and is zoned as R6, C1-3. The transaction price for the property was $4,680,000, resulting in a price per square foot of $1,444. It is important to note that the property was previously sold for $4 million in February 2017.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,680,000
- Square Footage: 3,239
- Address: 5805 8th Ave, Brooklyn
- Market: Brooklyn
- Zoning: R6, C1-3
The buyer of the property was Kit Hong Lai, while the seller was Ngan Cho Yung.
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
3.39%
Cash-on-Cash
-0.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93