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

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SOLD
$1,275,000

New York

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MultiFamily13,036 SF
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SOLD

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

2303 Clarendon Road

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MultiFamily13,036 SF
Sold
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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:

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
62 deals$322.8M volume
BROKER

Josh Orlander
GFI Realty Services
10 deals$98.9M volume
BROKER

Michael Weiser
GFI Realty Services
33 deals$512.7M volume
BROKER

Details

SOLD
IMAGE: Michael Weiser & Zachary Fuchs DATE: 05/16/2024 ADDRESS: 2303 Clarendon Road MARKET: Flatbush, Brooklyn ASSET TYPE: Multifamily BUYER: Dan Scher SELLER: Sharp Management BROKERS: Josh Orlander, Michael Weiser & Zachary Fuchs (@ZacharyDFuchs) - GFI Realty Services (@GFIRealty) SALE PRICE: $1,275,000 UNITS: 16 ~ PPU: $79,688 SF: 13,036 ~ PPSF: $98

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Deal Type
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