Justin Homapour's CROWN Investments Acquires Multifamily Property On Clinton Avenue For $2.2M
80 Clinton Avenue, Clinton Hill, Brooklyn, NY, USA
$2,200,000
$423/SF
Building Size
5,200 SF
Asset Type
MultiFamily
Closing
May 13, 2020
AI
An multifamily property located at 80 Clinton Avenue in Clinton Hill has been sold for a price of $2,200,000. The property has a building square footage (BSF) of 4,000, with a price per BSF (PPBSF) of $550. The total square footage (SF) of the property is 5,200, with a price per square foot (PPSF) of $423. The property consists of 4 units, with a price per unit (PPU) of $550,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,200,000
- Address: 80 Clinton Avenue
- Market: Clinton Hill
- Buyer: Justin Homapour - CROWN Investments
CROWN Investments, represented by Justin Homapour, purchased the property as part of their ongoing efforts to acquire properties across all asset classes.
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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93