Updated Oct 29, 2024
FREO Group Acquires Multifamily Property In Clinton Hill For $17.4M
79 Clifton Pl, Brooklyn, NY 11238, USA
$17,400,000
$33/SF
Building Size
523,750 SF
Asset Type
MultiFamily
Closing
Jan 6, 2020
About this deal
AI
Located at 79 Clifton Place in Clinton Hill, this multifamily property recently underwent a closed transaction. The property encompasses 52,375 square feet and features a total of 40 units. The deal involved a loan from Voya Investment Management, with an acquisition loan amount of $17,400,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,400,000
- Address: 79 Clifton Place
- Market: Clinton Hill
- Lender: Voya Investment Management
- Landlord: FREO Group – Mathis Luecker
- Brokers: @JLL
- Square Footage: 52,375
- Units: 40
The deal was facilitated through the representation of @JLL. The landlord for the property is FREO Group, with Mathis Luecker acting as their representative. This transaction marks an important collaboration between all parties involved, contributing to the growth of the multifamily market in Clinton Hill.
On the Map
$17,400,000
$33/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93