Rosewood Realty Brokers Deal for Clinton Hill Mixed-Use
Rosewood Realty Group has arranged the $2.452-million sale of a mixed-use building in Brooklyn’s Clinton Hill neighborhood. The four story walk-up building at 408 Myrtle Ave. features three residential apartments and one commercial space. The 3,775-square-foot building was built in 1955. It sold for a cap rate of 7.12%, or $650 per square foot. The sale price ... The post Rosewood Realty Brokers Deal for Clinton Hill Mixed-Use appeared first on Connect CRE.
Rosewood Realty Group has arranged the $2.452-million sale of a mixed-use building in Brooklyn’s Clinton Hill neighborhood. The four story walk-up building at 408 Myrtle Ave. features three residential apartments and one commercial space.
The 3,775-square-foot building was built in 1955. It sold for a cap rate of 7.12%, or $650 per square foot. The sale price also reflected a dollar amount 12.43 times the current rent roll at $613,000 price per unit.
Rosewood’s Aaron Jungreis, Ben Khakshoor Alex Fuchs and Eli Shayestehpour represented the buyer, Kalman Sinay. Joshua Malekan and Jonathan Setareh of Venture Capital Properties represented the seller, Shlomo Khodara.
The post Rosewood Realty Brokers Deal for Clinton Hill Mixed-Use appeared first on Connect CRE.
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