Vincent Tang Acquires 8-Unit Brooklyn Property For $2.65M
SOLD
$2,650,000
New York
See Similar DealsMultiFamily6,000 SF
Sold 01/04/2019
SOLD
Vincent Tang Acquires 8-Unit Brooklyn Property For $2.65M
206 Bushwick Avenue, Brooklyn, NY, USA
See Similar DealsMultiFamily6,000 SF
Sold 01/04/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$441
Total Square Footage:6,000 SF
Transaction Type:Sale
Located at 206 Bushwick Avenue in Brooklyn, this property is a prime investment opportunity. The sale of this property was finalized on January 4, 2019.
Summary of transaction details
- Property Type: Sale
- Transaction Amount: $2,650,000
- Square Footage: 6,000
- Price per Square Foot: $441.67
- Price per Unit: $331,250
- Number of Units: 8
- Market: Brooklyn
The buyer, Vincent Tang, acquired the property from Daniel Margulies. The transaction was facilitated by Shaun Riney and Mike Salvatico from Marcus & Millichap, who represented both the buyer and the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$141,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,414.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,562.35
Annual Debt Service$150,748.22
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