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
About this deal
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.
On the Map
$2,200,000
$371/SF
Mixed-use
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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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93