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
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