Yong Xiang Li Acquires Sunset Park Multifamily For $4.6M

The multifamily property located at 5811 8 Avenue in Sunset Park, Brooklyn has been sold in a closed transaction. The property has a lot size of 1,580 square feet and is zoned as R6, C1-3. The sale took place on October 27, 2022, with Yong Xiang Li as the buyer and Gim P.Hom as the seller. The transaction price was $4,600,000, with a building square footage (BSF) of 3,839 and a price per BSF (PPBSF) of $1,198. The property's total square footage (SF) is 3,113, and the price per SF (PPSF) is $1,477. The property has a floor area ratio (FAR) of 1.97 and falls under tax class 1. Notably, the property obtained an alteration permit on February 20, 2019.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $4,600,000
• Market: Sunset Park, Brooklyn
• Buyer: Yong Xiang Li
• Seller: Gim P.Hom
• Lot Size: 1,580 square feet
• BSF: 3,839
• PPBSF: $1,198
• SF: 3,113
• PPSF: $1,477
• Zoning: R6, C1-3

The individuals involved in the transaction are Yong Xiang Li, who purchased the property, and Gim P.Hom, who sold the property. Yong Xiang Li was represented by their agent from an undisclosed agency, and Gim P.Hom was represented by their agent from an undisclosed agency as well.