Richard Wu Acquires Mixed-Use Property In Prospect Heights, Brooklyn For $2.3M
593A Vanderbilt Ave, Brooklyn, NY 11238, USA
$2,300,000
$851/SF
Building Size
2,700 SF
Asset Type
Mixed-use
Closing
May 7, 2020
About this deal
AI
An attractive mixed-use property located at 593A Vanderbilt Avenue in Prospect Heights, Brooklyn has been sold in a closed transaction. The property consists of two residential units and one commercial unit, offering a total of 2,700 square feet of space. The sale price for this property was $2,300,000, with a price per square foot of $852. The property was listed for an asking price of $2,400,000. The transaction was facilitated by Mike Lipman from JLL.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,300,000
- Address: 593A Vanderbilt Avenue, Prospect Heights, Brooklyn
- Market: Prospect Heights, Brooklyn
- Size: 2,700 square feet
- Units: 3 (2 residential, 1 commercial)
- Price per Square Foot: $852
- Seller: Robert Elizondo
- Buyer: Richard Wu
- Broker: Mike Lipman - JLL
The successful transaction for this mixed-use property on Vanderbilt Avenue in Prospect Heights, Brooklyn was executed with Mike Lipman from JLL serving as the broker. The signed contract was secured in less than 4 weeks from initial listing.
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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93