Johnny Din And Jon Cypers Acquire Multifamily Property In Brooklyn, Clinton Hill For $3.1M
620 Myrtle Ave, Brooklyn, NY 11205, USA
$3,100,000
$475/SF
Building Size
6,525 SF
Asset Type
MultiFamily
Closing
Nov 13, 2019
AI
The multifamily property located at 620 Myrtle Avenue in Brooklyn's Clinton Hill neighborhood was recently sold in a closed transaction. The property consists of 4 units and 2 stores, with a total square footage of 6,525. The asking price for the property was $3,200,000, and it was sold for $3,100,000, resulting in a price per square foot of $475. The buyer of the property was Johnny Din and Jon Cypers, while the seller was Bob Bravo. The transaction was facilitated by Marcel Fridman, who represented the buyer and seller as the broker.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,100,000
- Square Footage: 6,525
- Address: 620 Myrtle Avenue, Brooklyn
- Market: Clinton Hill
- Buyer: Johnny Din, Jon Cypers
- Seller: Bob Bravo
- Broker: Marcel Fridman
- Asking Price: $3,200,000
- Price per Square Foot: $475
- Units: 4 units + 2 stores
The property was vacant at the time of closing. Additional details about the transaction were not provided.
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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93