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187 Classon Ave, Brooklyn, ...

The Zelik Family Acquires Multifamily Property On 187 Classon Avenue, Clinton Hill For $2.17M
SOLDMultiFamily

The Zelik Family Acquires Multifamily Property On 187 Classon Avenue, Clinton Hill For $2.17M

187 Classon Ave, Brooklyn, NY 11205, USA

$2,170,000

$517/SF

Building Size

4,195 SF

Asset Type

MultiFamily

Closing

Mar 5, 2020

AI

The multifamily property located at 187 Classon Avenue in Clinton Hill has recently been sold. The property consists of 4 units and spans across 4,195 square feet. The sale price for the property was $2,170,000, resulting in a price per square foot of $517. Each unit was sold at an average price of $542,500. The transaction concluded successfully within a timeframe of 14 business days from the launch of the deal to the closing. Saadya Notik from MAVRIK Property Group represented the seller, The Orlofsky Family, in the transaction. The buyer of the property was The Zelik Family.

Summary of transaction details:

  • Property Type: Multifamily
  • Sale Price: $2,170,000
  • Total Square Footage: 4,195 sqft
  • Price per Square Foot: $517
  • Number of Units: 4
  • Price per Unit: $542,500

The transaction was handled by Saadya Notik from MAVRIK Property Group, who played a crucial role in identifying the buyer and facilitating the successful closure of the deal within a short period of time.

Players

Saadya Notik

Broker

$4.6M

vol

2 deals

Broker

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

7.31%

Cash-on-Cash

-2.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93