Updated Dec 21, 2023
The Ardon Family Acquires Multifamily Property In Clinton Hill, Brooklyn For $4.2M
176 Clinton Avenue, Brooklyn, New York 11205, United States
$4,200,000
$791/SF
Building Size
5,304 SF
Asset Type
MultiFamily
Closing
May 3, 2022
About this deal
AI
The multifamily property located at 176 Clinton Ave in Clinton Hill, Brooklyn has been sold for a price of $4,200,000. The transaction took place on 05/04/2022. The property consists of 5 units with a total square footage of 5,850. The price per unit is $840,000 and the price per square foot is $717.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,200,000
- Units: 5
- Price Per Unit: $840,000
- Square Footage: 5,850
- Price Per Square Foot: $717
- Address: 176 Clinton Ave
- Market: Clinton Hill, Brooklyn
The buyer of the property is The Ardon Family, while the seller is The Evans Family. The deal was facilitated by brokers Andrew Bronsteen and Shaun Riney from NYM Group - Marcus & Millichap.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93