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33 Lexington Avenue

Marcus & Millichap Sells Multifamily Property In Clinton Hill, Brooklyn For $8.37M
SOLDMultiFamily

Marcus & Millichap Sells Multifamily Property In Clinton Hill, Brooklyn For $8.37M

33 Lexington Avenue & 35 Lexington Avenue

$8,370,000

$529/SF

Building Size

15,812 SF

Asset Type

MultiFamily

Closing

Jan 10, 2024

AI

Located in Clinton Hill, Brooklyn, the multifamily property at 33 Lexington Avenue & 35 Lexington Avenue has been sold in a closed transaction. The property consists of 10 units with a total of 7,906 square feet. The sale price for this asset was $8,370,000, resulting in a price per unit of $837,000 and a price per square foot of $1,059.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $8,370,000
  • Address: 33 Lexington Avenue & 35 Lexington Avenue
  • Market: Clinton Hill, Brooklyn

The seller of the property was Eric Orlofsky, representing Center Street Capital. The buyer was represented by Ari Harkov from Brown Harris Stevens. The seller was represented by Michael Salvatico, Shaun Riney, and Andrew Bronsteen from Marcus & Millichap.

Players

Michael Salvatico

Marcus & Millichap

Broker

$798.5M

vol

176 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

363 deals

Broker
Eric Orlofsky

Eric Orlofsky

Center Street Capital

Seller

$33.8M

vol

8 deals

Seller

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.90%

Cash-on-Cash

-0.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93