Updated Feb 16, 2024
Jack Cheng Acquires Multifamily Property In Sunset Park, Brooklyn For $1.8M
559 51st St, Brooklyn, NY 11220, USA & 559 51st St, Brooklyn, NY 11220, USA
Building Size
650 SF
Asset Type
MultiFamily
Closing
Apr 23, 2018
About this deal
AI
In a recent closed property transaction in Sunset Park, Brooklyn, a multifamily building located at 559 51st Street was sold for $1,800,000. This property has a price per square foot (PPSF) of $405 and a price per unit (PPU) of $300,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,800,000
- PPSF: $405
- PPU: $300,000
- Address: 559 51st Street, New York
The seller of this property was John Kielbasa, while the buyer was Jack Cheng. The transaction was facilitated by Marcus & Millichap, with John Brennan and Richard Sodeke from the agency representing the parties involved in the deal.
On the Map
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93