Tim Shutsky Purchases Multifamily Property From Shuk Han Chan For $1.7 Million With Daniel Barcelowsky As Buyer's Rep
60 23 Woodbine Street
$1,700,000
$726/SF
Building Size
2,340 SF
Asset Type
MultiFamily
Closing
Jul 30, 2025
AI
The property asset involved in this transaction is a multifamily unit located at 60-23 Woodbine Street in the Ridgewood market. It was sold for a price of $1,700,000. The asset consists of 2 units, offering a price per unit of $850,000. The total square footage of the property is 2,340, resulting in a price per square foot of $726.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,700,000
- Units: 2
- Price Per Unit: $850,000
- Square Footage: 2,340
- Price Per Square Foot: $726
- Buyer: Tim Shutsky
- Seller: Shuk Han Chan
- Buyer's Representative: Daniel Barcelowsky - Evergreen Realty & Investments
This transaction highlights the key players, with Tim Shutsky acting as the buyer and Shuk Han Chan serving as the seller. Daniel Barcelowsky from Evergreen Realty & Investments represents Tim Shutsky in the transaction.
Players
Ridgewood 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
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93