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80 Clinton Avenue, Clinton ...

Justin Homapour's CROWN Investments Acquires Multifamily Property On Clinton Avenue For $2.2M
SOLDMultiFamily

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.

Players

Justin Homapour

CROWN Investments

Buyer

$16.2M

vol

8 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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93