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
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