The Lai Family Acquires Mixed-use Property In Clinton Hill, Brooklyn For $2.46M
466 Myrtle Avenue, Clinton Hill, Brooklyn, NY, USA
$2,460,000
$946/SF
Building Size
2,600 SF
Asset Type
Mixed-use
Closing
Jun 15, 2020
About this deal
AI
The mixed-use property located at 466 Myrtle Avenue in Clinton Hill, Brooklyn has been sold for a total of $2,460,000. This transaction took place on June 15, 2021. The property spans across 2,600 square feet with a price per square foot of $946. It consists of 3 units, resulting in a price per unit of $820,000. The buyer of this property is The Lai Family.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $2,460,000
- Address: 466 Myrtle Avenue, Clinton Hill, Brooklyn
- Market: Clinton Hill, Brooklyn
- Units: 3
- Price per Unit: $820,000
- Square Footage: 2,600
- Price per Square Foot: $946
The brokers involved in this sale were Shaun Riney and Andrew Bronsteen, representing New York Multifamily and Marcus & Millichap NY, respectively.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.45%
Cash-on-Cash
-1.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93