Mohamed Hassan Acquires Multifamily Property At 42 Clermont Avenue Brooklyn For $1.85M
42 Clermont Avenue
$1,850,000
$660/SF
Building Size
2,800 SF
Asset Type
MultiFamily
Closing
Jan 7, 2025
AI
A multifamily property located at 42 Clermont Avenue in Brooklyn has been sold. The sale price for the asset amounted to $1,850,000, consisting of four units with a price per unit of $462,500. The property spans a total of 2,800 square feet, resulting in a price per square foot of $660.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,850,000
- Units: 4
- Price Per Unit: $462,500
- Square Footage: 2,800
- Price Per Square Foot: $660
- Buyer: Mohamed Hassan
- Seller: Workable City
- Buyer's Representative: Dimitri P. Venekas - Cosmos Capital Group
- Seller's Representatives: Peter Matheos & Isaiah Thomas - Matheos Realty Group
The deal was facilitated by two representatives from Matheos Realty Group, Peter Matheos and Isaiah Thomas, who represented the seller, Workable City. Dimitri P. Venekas from Cosmos Capital Group represented the buyer, Mohamed Hassan, in this transaction.
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
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93