Xu Chang Li Acquires Mixed-Use Property At 6223 Fifth Avenue From Martin Pansas For $7.92M
6223 Fifth Avenue
Building Size
7,920 SF
Asset Type
Mixed-use
Closing
Feb 23, 2026
About this deal
AI
6223 Fifth Avenue is a mixed-use property located in Brooklyn, comprising 11 residential units and 1 commercial unit, totaling 12 units. The property has a total square footage of 7,920 and was successfully sold after being in the market for over 30 years.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Address: 6223 Fifth Avenue
- Market: Brooklyn
- Units: 12
- Square Footage: 7,920
- Buyer: Xu Chang Li
- Seller: Martin Pansas
- Brokers: Samuel Finkler & Andrew Del Virginia - Besen Partners
The transaction was facilitated by Samuel Finkler and Andrew Del Virginia of Besen Partners, who adeptly managed the complexities of the rent stabilization environment during the sale process.
On the Map
Mixed-use
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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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93