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

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SOLD
$2,500,000

New York

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MultiFamily2,700 SF
Sold 07/09/2024
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Property Image
SOLD

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

532 Clinton Street

See Similar Deals
MultiFamily2,700 SF
Sold 07/09/2024
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$925
Total Square Footage:2,700 SF
Transaction Type:Sale

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
8 deals$15.2M volume
BROKER

Ron Molcho
Molcho Realty Group
7 deals$15.2M volume
BROKER

Details

SOLD
IMAGE: Maurice Molcho & Ron Molcho DATE: 07/09/2024 ADDRESS: 532 Clinton Street MARKET: Carroll Gardens, Brooklyn ASSET TYPE: Multifamily BUYER: Tommy Lin SELLER: Frank Giglioli BROKERS: Maurice Molcho (@Sell.Moe.Homes) & Ron Molcho - Molcho Realty Group (@MolchoRealtyGroup) SALE PRICE: $2,500,000 UNITS: 3 ~ PPU: $833,333 SF: 2,700 ~ PPSF: $926

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31