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1270 Ovington Avenue

Yun Ying Chen & Li Wu Chen Purchase Multifamily Property At 1270 Ovington Avenue For $1.6M
SOLDMultiFamily

Yun Ying Chen & Li Wu Chen Purchase Multifamily Property At 1270 Ovington Avenue For $1.6M

1270 Ovington Avenue

$1,600,000

$604/SF

Building Size

2,646 SF

Asset Type

MultiFamily

Closing

Apr 6, 2026

AI

The property involved in this transaction is a multifamily asset located at 1270 Ovington Avenue in Brooklyn. The sale was completed for $1,600,000. It comprises 3 units with a total square footage of 2,646, which translates to a price per unit of $533,333 and a price per square foot of $604.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,600,000
  • Units: 3
  • Square Footage: 2,646
  • Price Per Unit: $533,333
  • Price Per Square Foot: $604
  • Buyer: Yun Ying Chen & Li Wu Chen
  • Seller: Vito Angelo & Billy Apter
  • Brokers: Vito Angelo & Billy Apter - Re/Max
  • Date of Transaction: 4/7/2026

Yun Ying Chen and Li Wu Chen are the buyers of the property, while Vito Angelo and Billy Apter, who are also the sellers, represented themselves in this transaction as brokers with Re/Max. The transaction highlights the involvement of dual roles by the brokers, facilitating the sale while also being sellers of the multifamily asset.

Players

Vito Angelo

Re/Max

Broker

$79M

vol

39 deals

Broker
Vito Angelo

Vito Angelo

Seller

$79M

vol

39 deals

Seller

Brooklyn 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

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93