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:
- 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.
Players
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