THR Owner II, LLC Acquires Multifamily Property In Clinton Hill For $2.86M
SOLD
$2,860,000
New York
See Similar DealsMultiFamily2,380 SF
Sold 04/01/2022
SOLD
THR Owner II, LLC Acquires Multifamily Property In Clinton Hill For $2.86M
470 Classon Avenue, Brooklyn, New York 11238, United States
See Similar DealsMultiFamily2,380 SF
Sold 04/01/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,201
Total Square Footage:2,380 SF
Transaction Type:Sale
The multifamily property located at 470 Classon Ave. in Clinton Hill has been sold for a price of $2,860,000. The property spans a total square footage of 2,380, resulting in a price per square foot of $1,201. The sale took place on April 1, 2022. The transaction involved the buyer THR Owner II, LLC and the sellers Giovanni Castro and Maurice Harper.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,860,000
- Address: 470 Classon Ave.
- Market: Clinton Hill
- Square Footage: 2,380
Representing the buyer, David Chang from Compass played a key role in facilitating the transaction. Giovanni Castro, also from Compass, represented the sellers. Their expertise and negotiation skills were instrumental in the successful completion of the sale.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$152,533.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,160.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,557.86
Annual Debt Service$162,694.31
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