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
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