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Alma Realty Acquires 140 Clarkson Avenue Multifamily From Sentinel Real Estate For $5.1M

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SOLD
$5,100,000

New York

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MultiFamily69,491 SF
Sold 08/30/2023
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Property Image
SOLD

Alma Realty Acquires 140 Clarkson Avenue Multifamily From Sentinel Real Estate For $5.1M

140 Clarkson Avenue

See Similar Deals
MultiFamily69,491 SF
Sold 08/30/2023
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$73
Total Square Footage:69,491 SF
Transaction Type:Sale

A 59-unit residential elevator building at 140 Clarkson Avenue in Flatbush, Brooklyn has been sold for $5.1 million. The property, representing a multifamily asset, spans a total of 69,491 square feet with an average price per square foot of $73. The transaction was completed between Efstathios G. Valiotis of Alma Realty and Brian Ritter of Sentinel Real Estate.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $5,100,000
  • Units: 59
  • Price Per Unit: $86,441
  • Square Feet: 69,491
  • Price Per Square Foot: $73
  • Buyer: Efstathios G. Valiotis - Alma Realty
  • Seller: Brian Ritter - Sentinel Real Estate

Alma Realty, represented by Getty Industries LLC, acquired the 59-unit residential elevator building at 140 Clarkson Avenue in Flatbush, Brooklyn from Sentinel Real Estate's 140 Clarkson LLC for a total of $5.1 million. This transaction marks a significant development in the Flatbush market, showcasing the active involvement of prominent industry players.

Players

BUYER

6 deals$76.4M volume
SELLER

Details

SOLD
IMAGE: Efstathios G. Valiotis and Brian Ritter DATE: 08/30/2023 ADDRESS: 140 Clarkson Avenue MARKET: Flatbush, Brooklyn ASSET TYPE: Multifamily BUYER: Efstathios G. Valiotis - Alma Realty SELLER: Brian Ritter - Sentinel Real Estate SALE PRICE: $5,100,000 UNITS: 59 ~ PPU: $86,441 SF: 69,491 ~ PPSF: $73 NOTE: Alma Realty, represented by Getty Industries LLC, acquired a 59-unit residential elevator building at 140 Clarkson Avenue in Flatbush, Brooklyn, from Sentinel Real Estate's 140 Clarkson LLC for $5.1 million.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$271,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,119.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,176.60
Annual Debt Service$290,119.22