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2303 Clarendon Road

Dan Scher Purchases Multifamily Property In Flatbush, Brooklyn For $1.275M
SOLDMultiFamily

Dan Scher Purchases Multifamily Property In Flatbush, Brooklyn For $1.275M

2303 Clarendon Road

$1,275,000

$97/SF

Building Size

13,036 SF

Asset Type

MultiFamily

Closing

May 16, 2024

AI

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:

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.

Players

Zachary Fuchs

GFI Realty Services

Broker

$325.2M

vol

63 deals

Broker

Brooklyn 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

12.44%

Cash-on-Cash

-3.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93