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536 Bergen Street

Jin Wei Zeng Acquires Multifamily Building In Prospect Heights For $3.15M
SOLDMultiFamily

Jin Wei Zeng Acquires Multifamily Building In Prospect Heights For $3.15M

536 Bergen Street

$3,150,000

$540/SF

Building Size

5,826 SF

Asset Type

MultiFamily

Closing

Jan 23, 2024

AI

A multifamily property located at 536 Bergen Street in Prospect Heights, Brooklyn, has been sold for $3,150,000. The property consists of 6 units with an average price per unit of $525,000. It has a total square footage of 5,826, with a price per square foot of $541.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,150,000
  • Address: 536 Bergen Street
  • Market: Prospect Heights, Brooklyn
  • Units: 6
  • Price per Unit: $525,000
  • Square Footage: 5,826
  • Price per Square Foot: $541

The buyer of the property is Jin Wei Zeng, while the seller is Jay Greenberg. The deal was facilitated by brokers Shaun Riney, Andrew Bronsteen, and Jason Farese from Marcus & Millichap. Special thanks were given to Steven Noto, the seller's counsel from Noto & Noto PLLC, and congratulations were extended to Chris Panagos, the buyers' representative.

Players

Andrew Bronsteen

Marcus & Millichap

Broker

$271M

vol

65 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker
Jay Greenberg

Jay Greenberg

Seller

$76M

vol

7 deals

Seller

Brooklyn 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

5.04%

Cash-on-Cash

-1.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93