Updated Sep 9, 2024
Hisham Modine Acquires Multifamily Property In Clinton Hill, Brooklyn For $2.5M
123 St James Pl, Brooklyn, Ny 11238, Usa
$2,500,000
$744/SF
Building Size
3,360 SF
Asset Type
MultiFamily
Closing
Apr 29, 2020
About this deal
AI
The multifamily property located at 123 St. James Place in Clinton Hill, Brooklyn has been sold for a price of $2,500,000. The property spans a total area of 3,360 square feet, resulting in a price per square foot of $744. The sale was facilitated by brokers Derek Bestreich, Luke Sproviero, Adam Lobel, and Daniel Shawah from Bestreich Realty Group. The transaction involved the seller, Donna Brooks, and the buyer, Hisham Modine.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Square Footage: 3,360
- Price per Square Foot: $744
- Address: 123 St. James Place, Clinton Hill, Brooklyn
- Market: Clinton Hill, Brooklyn
- Seller: Donna Brooks
- Buyer: Hisham Modine
- Brokers: Derek Bestreich, Luke Sproviero, Adam Lobel, and Daniel Shawah – Bestreich Realty Group
The involvement of Derek Bestreich, Luke Sproviero, Adam Lobel, and Daniel Shawah from Bestreich Realty Group played a crucial role in facilitating this transaction. Their expertise and negotiation skills contributed to the successful closing of the deal.
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93