Dan Scher Purchases Multifamily Property In Flatbush, Brooklyn For $1.275M
SOLD
New York
See Similar DealsMultiFamily13,036 SF
Sold
SOLD
Dan Scher Purchases Multifamily Property In Flatbush, Brooklyn For $1.275M
2303 Clarendon Road
See Similar DealsMultiFamily13,036 SF
Sold
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$97
Total Square Footage:13036 SF
Transaction Type:Sale
The multifamily property located at 2303 Clarendon Road in Flatbush, Brooklyn, was sold in a transaction on 05/16/2024. The property consists of 16 units spanning 13,036 square feet, with a sale price of $1,275,000. This results in a price per unit of $79,688 and a price per square foot of $98.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,275,000
- Units: 16
- Square Footage: 13,036
- Price per Unit: $79,688
- Price per Square Foot: $98
- Address: 2303 Clarendon Road, Flatbush, Brooklyn
- Market: Flatbush, Brooklyn
- Seller: Sharp Management
- Buyer: Dan Scher
- Brokers: Josh Orlander, Michael Weiser & Zachary Fuchs - GFI Realty Services
Involved in the transaction were the buyer, Dan Scher, and the seller, Sharp Management. The deal was facilitated by brokers Josh Orlander, Michael Weiser, and Zachary Fuchs of GFI Realty Services.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$67,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,529.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,044.15
Annual Debt Service$72,529.81
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