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Ben Toure Acquires Multifamily Property In Clinton Hill/BK For $2.76M

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SOLD
$2,760,000

New York

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MultiFamily4,950 SF
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SOLD

Ben Toure Acquires Multifamily Property In Clinton Hill/BK For $2.76M

213 Lafayette Ave, Brooklyn, NY 11238, USA

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MultiFamily4,950 SF
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$557
Total Square Footage:4950 SF
Transaction Type:Sale

A multifamily property located at 213 Lafayette Avenue in the Clinton Hill neighborhood of Brooklyn has been sold in a closed transaction. The property spans a total of 4,950 square feet and consists of 7 units. The asking price for the property was $2,750,000 and it was ultimately sold for $2,760,000, resulting in a price per square foot of $558. The buyer of the property is Ben Toure, while the seller is Antoon Schollee. The transaction was facilitated by Mike Lipman from JLL.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,760,000
  • Address: 213 Lafayette Avenue, Clinton Hill/BK
  • Market: Clinton Hill/BK
  • Square Footage: 4,950
  • Asking Price: $2,750,000
  • Sale Price: $2,760,000
  • Price per Square Foot: $558
  • Units: 7
  • Buyer: Ben Toure
  • Seller: Antoon Schollee
  • Broker: Mike Lipman - JLL

The property was delivered fully vacant at the time of the transaction. This transaction serves as a testament to the vibrant real estate market in Clinton Hill, Brooklyn, and showcases the success of Mike Lipman from JLL in facilitating this multifamily property sale.

Players

Michael (Mike) Lipman
3 deals$7.2M volume
BROKER

Details

SOLD
IMAGE: Mike Lipman DATE: 09/16/2019 ADDRESS: 213 Lafayette Avenue MARKET: Clinton Hill/BK ASSET TYPE: Multifamily SELLER: Antoon Schollee BUYER: Ben Toure BROKER: Mike Lipman – JLL ASKING PRICE: $2,750,000 SALE PRICE: $2,760,000 SF: 4,950 PPSF: $558 UNITS: 7 PPU: $394,285 NOTE: Delivered fully vacant

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

$147,199.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,805.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,083.81
Annual Debt Service$157,005.70