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532 Clinton Street

Tommy Lin Purchases Multifamily Property At 532 Clinton Street For $2.5M
SOLDMultiFamily

Tommy Lin Purchases Multifamily Property At 532 Clinton Street For $2.5M

532 Clinton Street

$2,500,000

$925/SF

Building Size

2,700 SF

Asset Type

MultiFamily

Closing

Jul 9, 2024

AI

Located at 532 Clinton Street in Carroll Gardens, Brooklyn, this multifamily property was sold for $2,500,000. The transaction involved a total of 3 units with a price per unit of $833,333. The property spans 2,700 square feet, translating to a price per square foot of $926.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,500,000
  • Units: 3
  • Price per Unit: $833,333
  • Square Footage: 2,700
  • Price per Square Foot: $926
  • Address: 532 Clinton Street, Carroll Gardens, Brooklyn
  • Market: Carroll Gardens, Brooklyn
  • Buyer: Tommy Lin
  • Seller: Frank Giglioli
  • Brokers: Maurice Molcho & Ron Molcho - Molcho Realty Group

The deal's key individuals included Tommy Lin as the buyer and Frank Giglioli as the seller. Representing both parties in this transaction were Maurice Molcho and Ron Molcho from Molcho Realty Group.

Players

Maurice Molcho

Molcho Realty Group

Broker

$15.2M

vol

8 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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93