Ming Wong Acquires Flatbush Package Deal For $3.85M With Weber Frank Real Estate
1509 Nostrand Avenue, 1698 Nostrand Avenue & 1760 Nostrand Avenue
$3,850,000
$120/SF
Building Size
32,040 SF
Asset Type
Package Deal
Closing
Dec 20, 2023
AI
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.
Players
Brooklyn Package Deal Market Snapshot
Boundary boundary · Package Deal · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.12%
Cash-on-Cash
-1.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93