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Zhang Juntang Acquires Multifamily Property At 66 Patchen Avenue In Brooklyn For $2.1M

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SOLD
$2,100,000

New York

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MultiFamily8,800 SF
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SOLD

Zhang Juntang Acquires Multifamily Property At 66 Patchen Avenue In Brooklyn For $2.1M

66 Patchen Avenue

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MultiFamily8,800 SF
Sold
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$238
Total Square Footage:8,800 SF
Transaction Type:Sale

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

Lina Shi
9 deals$19.9M volume
BROKER

Details

SOLD
IMAGE: Lina Shi DATE: 12/11/2024 ADDRESS: 66 Patchen Avenue MARKET: Brooklyn ASSET TYPE: Multifamily BUYER: Zhang Juntang BROKER: Lina Shi (@Linashi_Realtor) - S10 Realty Group SALE PRICE: $2,100,000 UNITS: 8 ~ PPU: $262,500 SF: 8,800 ~ PPSF: $238 NOTE FROM BROKER: Represent buyer and seller, fast 30 days transaction.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$112,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86