Linda Cheung Acquires 20-Unit Multifamily Property From Tony Lee And Theresa Wong For $2.22M

The asset involved in this transaction is a multifamily property located at 27 Henry Street in the Two Bridges market. It comprises 20 units, with a total square footage of 9,474. The sale price was $2,217,000, resulting in a price per unit of $110,850 and a price per square foot of $234. The property is fully rent stabilized and fully occupied, offering a cap rate of 5.6%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,217,000
• Units: 20
• Square Footage: 9,474
• Price per Unit: $110,850
• Price per Square Foot: $234
• Buyer: Linda Cheung
• Seller: Tony Lee & Theresa Wong
• Broker Representatives: Zachary Ziskin, Adam Lobel, Justin Zeitchik & Christian Ingenito - Investment Property Realty Group (IPRG)

The transaction highlighted key players including the buyer, Linda Cheung, and the sellers, Tony Lee and Theresa Wong. The brokerage firm involved in the deal was Investment Property Realty Group (IPRG), represented by brokers Zachary Ziskin, Adam Lobel, Justin Zeitchik, and Christian Ingenito, showcasing their expertise in facilitating the transaction.