Mickalene L. Thomas Acquires Commercial Property In Clinton Hill For $3.85M
SOLD
$3,850,000
New York
See Similar DealsCommercial7,385 SF
Sold
SOLD
Mickalene L. Thomas Acquires Commercial Property In Clinton Hill For $3.85M
42 Clinton Avenue, Brooklyn, New York 11205, United States
See Similar DealsCommercial7,385 SF
Sold
Summary
NEW YORK
Asset Type:Commercial
Price Per Square Foot:$521
Total Square Footage:7385 SF
Transaction Type:Sale
A commercial property located at 42 Clinton Avenue in Clinton Hill, Brooklyn recently sold for $3,850,000. The property, with a lot size of 8,115 square feet, features a building with a total square footage of 7,385. The sale price per square foot was $521, and the price per buildable square foot was $237. The property is zoned M1-2, allowing for commercial use.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $3,850,000
- Building Square Footage: 7,385 SF
- Price per Square Foot: $521
- Lot Size: 8,115
- Zoning: M1-2
The buyer of the property was Mickalene L. Thomas, while the seller was Isaac Dahan. The property had previously been sold for $400,000 on December 6, 2012. A permit for alteration was issued on May 8, 2013. The lot dimensions are 50 feet by 100 feet. The property has a floor area ratio (FAR) of 0.91 and is classified under tax class 4.
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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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