Ming Zhang Acquires Sunset Park Multifamily For $3.2M With Brokers Greg Melanson & John Barney
SOLD
$3,200,000
New York
See Similar DealsMultiFamily16,512 SF
Sold 07/28/2022
SOLD
Ming Zhang Acquires Sunset Park Multifamily For $3.2M With Brokers Greg Melanson & John Barney
430 61st Street
See Similar DealsMultiFamily16,512 SF
Sold 07/28/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$193
Total Square Footage:16,512 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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