Jack Cheng Acquires Sunset Park Multifamily For $1.58M
SOLD
$1,580,000
New York
See Similar DealsMultiFamily3,016 SF
Sold 05/16/2022
SOLD
Jack Cheng Acquires Sunset Park Multifamily For $1.58M
759 52nd Street, Brooklyn, New York 11220, United States
See Similar DealsMultiFamily3,016 SF
Sold 05/16/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$523
Total Square Footage:3,016 SF
Transaction Type:Sale
A multifamily property located at 759 52nd St. in Sunset Park was recently sold in a closed transaction. The property consists of 6 units and spans a total area of 3,016 square feet. The sale price for the property was $1,580,000, resulting in a price per unit of $263,333 and a price per square foot of $523.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $1,580,000
- Units: 6
- Price per Unit: $263,333
- Square Footage: 3,016
- Price per Square Foot: $523
- Address: 759 52nd St.
- Market: Sunset Park
Jack Cheng is the buyer of the property, while Charles Hanlan is the seller. The transaction was facilitated by John Brennan and Matt Dittmeier, representatives from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$84,266.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,613.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,490.01
Annual Debt Service$89,880.07
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