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461 Classon Avenue

Updated Oct 29, 2024

Greenbrook Properties Acquires Multifamily In Clinton Hill, Brooklyn For $1.85M
SOLDMultiFamily

Greenbrook Properties Acquires Multifamily In Clinton Hill, Brooklyn For $1.85M

461 Classon Avenue

$1,850,000

$513/SF

Building Size

3,600 SF

Asset Type

MultiFamily

Closing

Mar 16, 2023

About this deal

AI

The multifamily property located at 461 Classon Avenue in Clinton Hill, Brooklyn has been sold in a closed transaction. The property consists of 4 units, with a total square footage of 3,600. The sale price for the property was $1,850,000, resulting in a price per unit of $462,500 and a price per square foot of $514.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,850,000
  • Address: 461 Classon Avenue, Clinton Hill, Brooklyn
  • Market: Clinton Hill, Brooklyn
  • Buyer: Greenbrook Properties
  • Seller: Majorie Byers
  • Brokers: Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, and Samantha Katz - Investment Property Realty Group (IPRG)
  • Units: 4 ~ PPU: $462,500
  • SF: 3,600 ~ PPSF: $514

The deal was facilitated by the expertise of Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, and Samantha Katz from Investment Property Realty Group (IPRG). Their knowledge and experience in the market played a crucial role in successfully closing the transaction.

Players

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$628.5M

vol

147 deals

Broker
GP
Greenbrook PropertiesBuyer

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $513 per square foot on a published $1.9M for 3,600 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.57%

Cash-on-Cash

-2.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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