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
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