Updated Sep 9, 2024
Ming Zhang Acquires Sunset Park Multifamily For $3.2M With Brokers Greg Melanson & John Barney
430 61st Street
$3,200,000
$193/SF
Building Size
16,512 SF
Asset Type
MultiFamily
Closing
Jul 28, 2022
About this deal
AI
A multifamily property located at 430 61st Street in Sunset Park has been sold for $3,200,000. The property consists of 16 units with an average price per unit of $200,000. It spans a total square footage of 16,512 with a price per square foot of $194. The sale was completed on 07/28/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,200,000
- Units: 16
- Price per Unit: $200,000
- Square Footage: 16,512
- Price per Square Foot: $194
- Address: 430 61st Street
- Market: Sunset Park
The buyer of the property was Ming Zhang, while the seller was the Dong Family. The deal was facilitated by Greg Melanson and John Barney from Weber Frank.
On the Map
$3,200,000
$193/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93