ZG CLINTON LLC paid $5M to CLINTON PARTNERS

ZG CLINTON LLC paid CLINTON PARTNERS, LLC $5.1 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 20 residential units at 487 Clinton Avenue in Clinton Hill. The deal closed on June 27, 2019 and was recorded on July 15, 2019. The parcel(s) have total development potential of 26,158 square feet.
The sale price per unit is $255,000..
The estimated cap rate is 3.2%
The last time the property sold was December 30, 2011, for $2,480,566.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $51,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link