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69-03 13th Avenue, Brooklyn...

David Chen Acquires Mixed-Use Property In Dyker Heights For $2.2M
SOLDMixed-use

David Chen Acquires Mixed-Use Property In Dyker Heights For $2.2M

69-03 13th Avenue, Brooklyn, NY, USA

$2,200,000

$371/SF

Building Size

5,920 SF

Asset Type

Mixed-use

Closing

Nov 1, 2021

AI

A mixed-use property located at 69-03 13th Ave. in Dyker Heights has been sold for $2,200,000. The property spans 5,920 square feet with a price per square foot of $371. The transaction took place on November 1, 2021. The property is zoned as R6B and C1-3, allowing for a mix of residential and commercial use.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,200,000
  • Address: 69-03 13th Ave.
  • Market: Dyker Heights
  • Zoning: R6B, C1-3

The buyer of the property is David Chen, and the seller is Frank Santros. The deal was facilitated by Anthony M. Ponte and Robert Heicklen from Stonegate Real Estate, who represented both parties. Anthony M. Ponte and Robert Heicklen acted as brokers in the transaction.

Players

Anthony M Ponte

Stonegate Real Estate

Broker

$14.6M

vol

9 deals

Broker

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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93