Updated Oct 29, 2024
Betty Kapakos Acquires Multifamily Property On Clinton Avenue For $4.2M
500 Clinton Avenue, Clinton Hill, Brooklyn, NY, USA
$4,220,000
$703/SF
Building Size
6,000 SF
Asset Type
MultiFamily
Closing
Dec 11, 2018
About this deal
AI
This multifamily property, located at 500 Clinton Avenue in Clinton Hill, Brooklyn, recently changed hands in a sale transaction. The property consists of 7 units and is owned by Sugar Hill Capital Partners. The buyer, Betty Kapakos, acquired the property with the assistance of broker John Brennan from Marcus & Millichap. The transaction took place on December 12, 2018.
Summary of transaction details:
- Property Type: Multifamily (7 Family)
- Transaction Amount: $4,220,000
- Price per Square Foot: $803.81
- Capitalization Rate: 4.32%
- Gross Rent Multiplier: 18.36
John Brennan from Marcus & Millichap represented Betty Kapakos in this deal. The transaction price for the property was $4,220,000, with a price per square foot of $803.81. The property’s capitalization rate was 4.32% and it had a gross rent multiplier of 18.36.
Players
New York 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
3.76%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93