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646 Eastern Pkwy, Brooklyn,...

Chaim Drizin Acquires Multi-Family Property In Brooklyn For $1.6M
SOLDMultiFamily

Chaim Drizin Acquires Multi-Family Property In Brooklyn For $1.6M

646 Eastern Pkwy, Brooklyn, NY 11213, USA

Building Size

3,492 SF

Asset Type

MultiFamily

Closing

Jun 21, 2018

AI

The multi-family property located at 646 Eastern Parkway in Brooklyn, New York has been sold for a price of $1,600,000. The transaction took place on June 22, 2018.

Summary of transaction details

  • Property Type: Multi Family
  • Transaction Amount: $1,600,000
  • Seller: Zucker Asset Group - Ted Zucker & Andrew Wenzel
  • Buyer: Chaim Drizin
  • Broker: The Johnston Team of Commercial Warehouse Brooklyn - Bryan Kirk, DJ Johnston, Josh Sabzevari

The property, situated in the Brooklyn market, was sold by the Zucker Asset Group, represented by Ted Zucker and Andrew Wenzel, to buyer Chaim Drizin. The transaction was facilitated by the brokers Bryan Kirk, DJ Johnston, and Josh Sabzevari of The Johnston Team of Commercial Warehouse Brooklyn.

Players

Bryan Kirk

Matthews

Broker

$113.8M

vol

24 deals

Broker
B6 Real Estate Advisors
B6 Real Estate AdvisorsBrokerage

Chaim Drizin

Buyer

$48.4M

vol

2 deals

Buyer

Andrew Wenzel

Seller

$1.6M

vol

2 deals

Seller

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