Updated Oct 28, 2024
Zeff Land Company Acquires Multifamily Property In Clinton Hill For $1,295,000 Loan
164 Clifton Place, Clinton Hill, Brooklyn, NY, USA
$1,295,000
$404/SF
Building Size
3,200 SF
Asset Type
MultiFamily
Closing
Oct 13, 2021
About this deal
AI
The multifamily property located at 164 Clifton Place in Brooklyn's Clinton Hill neighborhood has been involved in a recent transaction. The property spans approximately 3,200 square feet and consists of three units.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $1,295,000
- Date: 10/13/2021
- Address: 164 Clifton Place, Brooklyn
- Market: Clinton Hill
- Loan Type: Acquisition Loan
The lender for this transaction was Stony Clove Capital, represented by Adam Sabella. The loan amount obtained was $1,295,000. The landlord of the property is Zeff Land Company. The brokers involved in the deal were Cooper Ramsey and Peter Stobierski from Truerate Services.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.25%
Cash-on-Cash
-3.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93