Updated Oct 29, 2024
Bi Hang Cheng Acquires Multifamily Property In Brooklyn For $4.45M From Seller Linda Galarza
561 Manhattan Ave, Brooklyn, NY 11222, USA
Building Size
55,610 SF
Asset Type
MultiFamily
Closing
Apr 2, 2018
About this deal
AI
The multifamily property located at 561 Manhattan Avenue in Brooklyn, New York has been sold in a closed transaction. The property spans 5,561 square feet and consists of 3 units. The sale price for the property was $4,450,000, resulting in a price per square foot of $787.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,450,000
- Address: 561 Manhattan Avenue
- City: New York
- Market: Brooklyn
- Square Footage: 5,561sf
- Price Per Square Foot: $787
- Units: 3
The seller of the property was Galarza Family Enterprises LLC, represented by Linda Galarza. The buyer of the property was Bi Hang Cheng. The brokers involved in the deal were Shaun Riney and Mike.
Players
New York 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93