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
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
1.90%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93