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220 St James Pl, Clinton Hi...

Joseph Stein, Derek Greenbaum, Andrew Doppelt, And Larry Zombek Acquire Multifamily Property In Clinton Hill, Brooklyn
SOLDMultiFamily

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

Gina Taylor

The Corcoran Group

Broker

$2.4M

vol

1 deal

Broker

Joseph Stein

Buyer

$7.8M

vol

3 deals

Buyer

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