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206 Bushwick Avenue, Brookl...

Vincent Tang Acquires 8-Unit Brooklyn Property For $2.65M
SOLDMultiFamily

Vincent Tang Acquires 8-Unit Brooklyn Property For $2.65M

206 Bushwick Avenue, Brooklyn, NY, USA

$2,650,000

$441/SF

Building Size

6,000 SF

Asset Type

MultiFamily

Closing

Jan 3, 2019

AI

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.

Players

Michael Salvatico

Marcus & Millichap

Broker

$787M

vol

173 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

Vincent Tang

Buyer

$8.2M

vol

2 deals

Buyer

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

5.99%

Cash-on-Cash

-1.71%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93