Ming Wong Acquires Flatbush Package Deal For $3.85M With Weber Frank Real Estate
SOLD
$3,850,000
New York
See Similar DealsPackage Deal32,040 SF
Sold 12/20/2023
SOLD
Ming Wong Acquires Flatbush Package Deal For $3.85M With Weber Frank Real Estate
1509 Nostrand Avenue, 1698 Nostrand Avenue & 1760 Nostrand Avenue
See Similar DealsPackage Deal32,040 SF
Sold 12/20/2023
Summary
NEW YORK
Asset Type:Package Deal
Price Per Square Foot:$120
Total Square Footage:32,040 SF
Transaction Type:Sale
A package deal consisting of three properties located at 1509 Nostrand Avenue, 1698 Nostrand Avenue, and 1760 Nostrand Avenue in the Flatbush neighborhood of Brooklyn has been sold for a total price of $3,850,000. The total square footage of the properties is 10,680, resulting in a price per square foot of $360.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $3,850,000
- Address: 1509 Nostrand Avenue, 1698 Nostrand Avenue & 1760 Nostrand Avenue
- Market: Flatbush, Brooklyn
The buyer of this package deal is Ming Wong. The deal was facilitated by John Barney and Gregory Melanson from Weber Frank Real Estate, who represented the buyer.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$205,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,678.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,250.96
Annual Debt Service$219,011.57
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