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471 Clinton Avenue

Amir Zwickel's Entity Acquires Multifamily Brownstone From James Donna In Brooklyn For $2.4M
SOLDMultiFamily

Amir Zwickel's Entity Acquires Multifamily Brownstone From James Donna In Brooklyn For $2.4M

471 Clinton Avenue

$2,400,000

$533/SF

Building Size

4,500 SF

Asset Type

MultiFamily

Closing

Feb 27, 2025

AI

This multifamily asset, located at 471 Clinton Avenue in Brooklyn, comprises a 5-story brownstone with a total of 4,500 square feet. The property features 3 units and was sold for a price of $2,400,000, resulting in a price per unit of $800,000 and a price per square foot of $533.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,400,000
  • Units: 3
  • Square Footage: 4,500
  • Price Per Unit: $800,000
  • Price Per Square Foot: $533
  • Buyer: Entity Led By Real Estate Developer Amir Zwickel
  • Seller: James Donna
  • Broker Representatives: Afik Even & Sarig Brand - Brand Realty
  • Date of Transaction: 02/27/2025

This transaction involved a strategically executed negotiation process by the brokers, resulting in a sale price that was 20% below the original asking price. The brokers highlighted their commitment and strategic approach throughout the transaction, showcasing their ability to navigate shifting market conditions effectively.

Players

Sarig Brand

Broker

$51M

vol

19 deals

Broker

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

6.61%

Cash-on-Cash

-1.89%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93