David Chang Of Compass Sells Bedford-Stuyvesant Multifamily For $11.75M
SOLD
$11,750,000
New York
See Similar DealsMultiFamily6,210 SF
Sold 09/20/2022
SOLD
David Chang Of Compass Sells Bedford-Stuyvesant Multifamily For $11.75M
598 Myrtle Avenue
See Similar DealsMultiFamily6,210 SF
Sold 09/20/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,892
Total Square Footage:6,210 SF
Transaction Type:Sale
The multifamily property located at 598-600 Myrtle Ave in Bedford-Stuyvesant has been sold for $11,750,000. The transaction took place on 09/20/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,750,000
- Market: Bedford-Stuyvesant
- Square Footage: 6,210
- Price Per Square Foot: $1,892
- Broker: David Chang - Compass
The property, spanning 6,210 square feet, is located at 598-600 Myrtle Ave in Bedford-Stuyvesant. The sale price for the multifamily asset was $11,750,000, with a price per square foot of $1,892. Representing the deal was broker David Chang from Compass.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$626,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,745.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,700.99
Annual Debt Service$668,411.93
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