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170 Clinton Street

Carlos Saavedra Acquires Multifamily Property On 170 Clinton Street In Brooklyn Heights For $4.75M
SOLDMultiFamily

Carlos Saavedra Acquires Multifamily Property On 170 Clinton Street In Brooklyn Heights For $4.75M

170 Clinton Street

$4,750,000

$777/SF

Building Size

6,110 SF

Asset Type

MultiFamily

Closing

Mar 7, 2023

AI

A multifamily property in Brooklyn Heights has been sold for a price of $4,750,000. The property, located at 170 Clinton Street, consists of 9 units and spans a total area of 5,483 square feet. The price per unit comes out to be $527,778, and the price per square foot is $866.

Summary of Transaction Details:

  • Property Type: Multifamily
  • Transaction Amount: $4,750,000
  • Address: 170 Clinton Street
  • Market: Brooklyn Heights
  • Units: 9
  • Price Per Unit: $527,778
  • Total Square Footage: 5,483
  • Price Per Square Foot: $866

Carlos Saavedra has acquired the property from Peter & Demetrios Yatrakis. Anastasia Thanopoulos from Skyline Realty LLC represented Carlos Saavedra as the buyer's representative. On the other hand, Sean R. Kelly, Stephen Vorvolakos, Nicole Daniggelis, and Julian Montilus from Ariel Property Advisors represented the seller, Peter & Demetrios Yatrakis, in the transaction.

Players

Sean R. Kelly, Esq.

Ariel Property Advisors

Broker

$529.8M

vol

56 deals

Broker
Carlos Saavedra

Carlos Saavedra

Buyer

$108.4M

vol

20 deals

Buyer
Demetrios Yatrakis

Demetrios Yatrakis

Lonicera Partners

Seller

$116.8M

vol

5 deals

Seller

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.34%

Cash-on-Cash

-0.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93