Updated Dec 20, 2023
Iyan Tsui Fung Acquires Sunset Park Multifamily Property For $3.18M
5908 7th Avenue, Brooklyn, New York 11220, United States
$3,180,000
$742/SF
Building Size
4,283 SF
Asset Type
MultiFamily
Closing
May 11, 2022
About this deal
AI
The multifamily property at 5908 7th Avenue in Sunset Park, Brooklyn has been sold in a closed transaction. The property has a zoning of R7A and C2-4, allowing for various uses. It has a building square footage (BSF) of 6,392 and a price per BSF of $497. The property spans 4,283 square feet, with a price per square foot (PPSF) of $742. The sale price for the property was $3,180,000. The property has a floor area ratio (FAR) of 2.68 and falls under tax class 1. The lot size is 1,598 square feet, with dimensions of 20 ft x 79.92 ft. The property previously had an alteration permit in 2006.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,180,000
- Market: Sunset Park, Brooklyn
The buyer in this transaction is Iyan Tsui Fung, while the seller is Kong Wa Li.
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
4.99%
Cash-on-Cash
-1.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93