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Ariel Shalom Acquires Multifamily Property In Clinton Hill, Brooklyn For $4.15M

Property Image
SOLD
$4,150,000
Andrew Bronsteen
Daniel Greenblatt
Shaun Riney
+ 1

New York

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10,050 SF
Sold 02/28/2022
the dealplayerscompscontact
Property Image
SOLD

Ariel Shalom Acquires Multifamily Property In Clinton Hill, Brooklyn For $4.15M

112 Lexington Avenue, Brooklyn, New York 11238, United States

See Similar Deals
10,050 SF
Sold 02/28/2022
Andrew Bronsteen
Daniel Greenblatt
Shaun Riney
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Price Per Square Foot:$412
Total Square Footage:10,050 SF
Transaction Type:Sale

A multifamily property located at 112-114 Lexington Avenue in Clinton Hill, Brooklyn has been sold for a price of $4,150,000. The property has a building square footage of 17,200 with a price per square foot (PPSF) of $241. The sale took place on February 28, 2022.

Summary of transaction details:

Ariel Shalom is the buyer of the property, while Ezekiel Witherspoon Sr. is the seller. The transaction was facilitated by brokers Shaun Riney, Andrew Bronsteen, and Daniel Greenblatt from Marcus & Millichap.

Players

Andrew Bronsteen
Marcus & Millichap
Andrew Bronsteen
64 deals$257.5M volume
BROKER
Daniel Greenblatt
Marcus & Millichap
Daniel Greenblatt
69 deals$263.4M volume
BROKER
Shaun Riney
Marcus & Millichap
Shaun Riney
355 deals$1.8B volume(718) 475-4369
BROKER
Ariel Shalom
Ariel Shalom
8 deals$30.8M volume
BUYER

Details

SOLD
IMAGE: Ariel Shalom, Shaun Riney, Andrew Bronsteen & Daniel Greenblatt DATE: 02/28/2022 ADDRESS: 112-114 Lexington Avenue MARKET: Clinton Hill, Brooklyn ASSET TYPE: Multifamily BUYER: Ariel Shalom (@Ariel0794) SELLER: Ezekiel Witherspoon Sr. BROKERS: Shaun Riney (@ShaunRiney1), Andrew Bronsteen (@BKBronsteen) & Daniel Greenblatt (@DealBlatt) - Marcus & Millichap SALE PRICE: $4,150,000 BSF: 17,200 ~ PPBSF: $241 ZONING: R6A/R6B

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

$221,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,744.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,673.12
Annual Debt Service$236,077.41