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1005 46th St, Brooklyn, NY ...

Updated Dec 21, 2023

Kelly Zheng Acquires Multi-Family Property In Brooklyn's Sunset Park
SOLDMultiFamily

Kelly Zheng Acquires Multi-Family Property In Brooklyn's Sunset Park

1005 46th St, Brooklyn, NY 11219, USA

$3,700,000

$336/SF

Building Size

11,000 SF

Asset Type

MultiFamily

Closing

Jun 26, 2019

About this deal

AI

The multi-family property located at 1005 46th Street in Brooklyn's Sunset Park neighborhood was recently sold. The property consists of 11,000 square feet and was listed with an asking price of $4,000,000. The sale price for the property was negotiated down to $3,700,000, resulting in a price per square foot of $336.

Summary of transaction details:

  • Property Type: Multi Family
  • Asking Price: $4,000,000
  • Sale Price: $3,700,000
  • Total Square Feet: 11,000
  • Price Per Square Foot: $336
  • Address: 1005 46th Street, Brooklyn
  • Market: Sunset Park

The sellers of the property were Chayim Kirschenbaum and Marc Blumenfrucht. The buyer, who acquired the property for $3,700,000, is Kelly Zheng. The deal was facilitated by Marcel Fridman from the Barcel Group, representing both the buyer and the seller in the transaction. It is worth noting that the property was fully vacant at the time of closing.

Players

Marcel Fridman

Barcel Group

Broker

$468.3M

vol

146 deals

Broker

Chayim Kirschenbaum

Seller

$3.7M

vol

2 deals

Seller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $336 per square foot on a published $3.7M for 11,000 square feet (2019).

Visit Marcel Fridman to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.29%

Cash-on-Cash

-1.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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