Joseph Stein, Derek Greenbaum, Andrew Doppelt, And Larry Zombek Acquire Multifamily Property In Clinton Hill, Brooklyn
220 St James Pl, Clinton Hill, Brooklyn, NY, USA
$2,360,000
$207/SF
Building Size
11,356 SF
Asset Type
MultiFamily
Closing
May 3, 2021
AI
The multifamily property located at 220 St James Pl in Clinton Hill, Brooklyn has been sold. The property, also known as Christopher 'Notorious B.I.G.' Wallace Way, was purchased by Joseph Stein, Derek Greenbaum, Andrew Doppelt, and Larry Zombek from the Estate of Basil Lynton Walker for a price of $2,360,000. The property spans 11,356 square feet and has 8 units, with an average price per square foot of $208 and a price per unit of $295,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,360,000
- Address: 220 St James Pl, Clinton Hill, Brooklyn
- Market: Clinton Hill, Brooklyn
Gina Taylor from Corcoran represented the buyers, Joseph Stein, Derek Greenbaum, Andrew Doppelt, and Larry Zombek, in this transaction.
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
6.72%
Cash-on-Cash
-1.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93