Updated Dec 21, 2023
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.
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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