David Chang Of Compass Acquires Multifamily Property In Bushwick For $2.4M
1261 Bushwick Avenue, Brooklyn, New York 11207, United States
$2,400,000
$545/SF
Building Size
4,400 SF
Asset Type
MultiFamily
Closing
May 11, 2022
AI
Located at 1261 Bushwick Ave in the Bushwick neighborhood, this multifamily property recently changed hands in a closed transaction. The deal was facilitated by David Chang of Compass, representing the buyer, and Tomer Shmuel and Dani Ohayon of Massada Home Sales Inc., representing the seller.
Summary of Transaction Details:
- Property Type: Multifamily
- Sale Price: $2,400,000
- Number of Units: 3
- Price per Unit: $800,000
- Square Footage: 4,400
- Price per Square Foot: $545
- Market: Bushwick
The buyer's representative, David Chang from Compass, played a crucial role in this transaction. On the other side, the seller was represented by Tomer Shmuel and Dani Ohayon from Massada Home Sales Inc. The property offers a total of three units, with each unit valued at an average of $800,000. The sale price of the entire property amounted to $2,400,000, making it a valuable investment in the Bushwick market.
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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93