Betty Kapakos Acquires Multifamily Property On Clinton Avenue For $4.2M

This multifamily property, located at 500 Clinton Avenue in Clinton Hill, Brooklyn, recently changed hands in a sale transaction. The property consists of 7 units and is owned by Sugar Hill Capital Partners. The buyer, Betty Kapakos, acquired the property with the assistance of broker John Brennan from Marcus & Millichap. The transaction took place on December 12, 2018.

Summary of transaction details:

• Property Type: Multifamily (7 Family)
• Transaction Amount: $4,220,000
• Price per Square Foot: $803.81
• Capitalization Rate: 4.32%
• Gross Rent Multiplier: 18.36

John Brennan from Marcus & Millichap represented Betty Kapakos in this deal. The transaction price for the property was $4,220,000, with a price per square foot of $803.81. The property’s capitalization rate was 4.32% and it had a gross rent multiplier of 18.36.