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35 Clifton Place, Brooklyn,...

Updated Dec 21, 2023

Angad Chhabra Acquires Multifamily Property In Clinton Hill, Brooklyn For $3.51M
SOLDMultiFamily

Angad Chhabra Acquires Multifamily Property In Clinton Hill, Brooklyn For $3.51M

35 Clifton Place, Brooklyn, New York 11238, United States

$3,510,000

$1,339/SF

Building Size

2,620 SF

Asset Type

MultiFamily

Closing

Aug 1, 2022

About this deal

AI

The multifamily property located at 35 Clifton Place in Clinton Hill, Brooklyn has been sold. The property is zoned as R6B and C2-4, with a lot size of 2,000 square feet and a lot dimension of 20 ft x 100 ft. The transaction took place on 08/02/2022.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,510,000
  • Address: 35 Clifton Place, Clinton Hill, Brooklyn
  • Market: Clinton Hill, Brooklyn
  • Zoning: R6B, C2-4
  • Buyer: Angad Chhabra
  • Seller: Dianne R Wright
  • Price per Square Foot: $1,339
  • Building Square Footage: 2,620
  • Price per Buildable Square Foot: $877
  • Floor Area Ratio (FAR): 1.31
  • Tax Class: 1
  • Permits: Alteration 2 (12/19/2013)

The buyer of the property is Angad Chhabra, while the seller is Dianne R Wright. The transaction involved a price of $3,510,000, with a building square footage of 2,620 and a price per square foot of $1,339. The lot size is 2,000 square feet, with a lot dimension of 20 ft x 100 ft. The property is zoned as R6B and C2-4, and it has a floor area ratio (FAR) of 1.31 and tax class of 1. The property had previously obtained an alteration permit in 2013.

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $1.3K per square foot on a published $3.5M for 2,620 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.52%

Cash-on-Cash

-1.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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