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

Property Image
SOLD
$2,200,000

New York

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MultiFamily5,200 SF
Sold 05/13/2020
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Property Image
SOLD

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

80 Clinton Avenue, Clinton Hill, Brooklyn, NY, USA

See Similar Deals
MultiFamily5,200 SF
Sold 05/13/2020
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$423
Total Square Footage:5,200 SF
Transaction Type:Sale

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
Justin Homapour
8 deals$16.2M volume
BUYER

Details

SOLD
IMAGE: Justin Homapour DATE: 05/13/2021 ADDRESS: 80 Clinton Avenue MARKET: Clinton Hill ASSET TYPE: Multifamily BUYER: Justin Homapour - CROWN Investments (@BklynDeveloper) SALE PRICE: $2,200,000 BSF: 4,000 ~ PPBSF: $550 SF: 5,200 ~ PPSF: $423 UNITS: 4 ~ PPU: $550,000 NOTE: CROWN Investments is actively seeking to acquire properties in all asset classes

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$117,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,429.12
Annual Debt Service$125,149.47