David Lee Acquires Multifamily Property At 506 Woodward Avenue For $2.43M With David Chang And Mark Martov As Representatives
506 Woodward Avenue
$2,430,000
$604/SF
Building Size
4,023 SF
Asset Type
MultiFamily
Closing
Oct 29, 2025
AI
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.
Players
Ridgewood MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.53%
Cash-on-Cash
-1.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93