Updated Sep 5, 2024
David Chang Acquires Multifamily Property In Bushwick, Brooklyn For $1.7M
1220 Decatur Street
$1,716,375
$618/SF
Building Size
2,775 SF
Asset Type
MultiFamily
Closing
Nov 9, 2022
About this deal
AI
A multifamily property located at 1220 Decatur Street in Bushwick, Brooklyn has been sold for $1,716,375. The property consists of three units with a total square footage of 2,775, resulting in a price per square foot of $619. The sale was completed on November 9, 2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,716,375
- Address: 1220 Decatur Street, Bushwick, Brooklyn
The seller of the property was Joseph Goldzal. Representing the buyer in the transaction was David Chang. On the seller's side, Derek Bestreich, Steve Reynolds, Tom Reynolds, and Brian Davila from Investment Property Realty Group (IPRG) acted as the seller's representatives.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.24%
Cash-on-Cash
-2.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93