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620 Myrtle Ave, Brooklyn, N...

Johnny Din And Jon Cypers Acquire Multifamily Property In Brooklyn, Clinton Hill For $3.1M
SOLDMultiFamily

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

Marcel Fridman

Barcel Group

Broker

$456.5M

vol

142 deals

Broker
Johnny Din

Johnny Din

Buyer

$35.9M

vol

16 deals

Buyer

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