Tommy Lin Purchases Multifamily Property At 532 Clinton Street For $2.5M
SOLD
New York
See Similar DealsMultiFamily2,700 SF
Sold 07/09/2024
SOLD
Tommy Lin Purchases Multifamily Property At 532 Clinton Street For $2.5M
532 Clinton Street
See Similar DealsMultiFamily2,700 SF
Sold 07/09/2024
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.
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Deal Type
30 years
10 years
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
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