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
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