David Lee Acquires Multifamily Property At 506 Woodward Avenue For $2.43M With David Chang And Mark Martov As Representatives
SOLD
$2,430,000
New York
See Similar DealsMultiFamily4,023 SF
Sold 10/30/2025
SOLD
David Lee Acquires Multifamily Property At 506 Woodward Avenue For $2.43M With David Chang And Mark Martov As Representatives
506 Woodward Avenue
See Similar DealsMultiFamily4,023 SF
Sold 10/30/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$604
Total Square Footage:4,023 SF
Transaction Type:Sale
The property sold is a MultiFamily asset located at 506 Woodward Avenue in Ridgewood. The transaction was completed at a price of $2,430,000 and has a total square footage of 4,023, resulting in a price per square foot of $604.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $2,430,000
- Address: 506 Woodward Avenue
- Market: Ridgewood
- Square Footage: 4,023
- Price Per Square Foot: $604
- Buyer: David Lee
- Seller: Amy Chang
- Buyer's Representative: David Chang - Compass
- Seller's Representative: Mark Martov - The Corcoran Group
Key individuals involved in this transaction include the buyer David Lee and the seller Amy Chang, with David Chang representing the buyer and Mark Martov representing the seller. Both brokers belong to prominent agencies in the real estate market, facilitating the sale effectively.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$129,600.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,633.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,519.44
Annual Debt Service$138,233.28
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