Zhang Juntang Acquires Multifamily Property At 66 Patchen Avenue In Brooklyn For $2.1M
66 Patchen Avenue
$2,100,000
$238/SF
Building Size
8,800 SF
Asset Type
MultiFamily
Closing
Dec 11, 2024
AI
The property involved in this transaction is a multifamily asset located at 66 Patchen Avenue, Brooklyn. It has been sold for a price of $2,100,000. The asset comprises 8 units and has a total square footage of 8,800, resulting in a price per unit of $262,500 and a price per square foot of $238.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Units: 8
- Square Footage: 8,800
- Price Per Unit: $262,500
- Price Per Square Foot: $238
- Buyer: Zhang Juntang
- Broker: Lina Shi - S10 Realty Group
- Date of Sale: 12/11/2024
- Market: Brooklyn
Lina Shi represented both the buyer, Zhang Juntang, and the seller in this transaction. Notably, the entire process was completed swiftly within a timeframe of 30 days.
Players
Brooklyn 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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93