- Sale Price
- $3.8M
- Profit
- $890K
- IRR
- 8%
- Sold
- Apr 2021
Overview
A major alteration that converted a building on Clarkson Avenue in Brooklyn, NY into four condominium units. Purchased in September 2018 for $1.45M and renovated for $750K, the project sold in April 2021 for $3.8M.
Project Outcome
SoldPurchase
$1.45M
Sale Price
$3.8M
- Purchased
- Sep 2018
- Construction Cost
- $750K
- Sold
- Apr 2021
- Profit
- $890K
- IRR
- 8%
- Project Length
- 30 months
- Investors
- 12
- Units
- 4
- Size
- 4,770 sq ft
Investment Outcome
- Profit
- $890K
- IRR
- 8%
- Sale Price
- $3.8M
Total cost$2.2M
Sale price$3.8M
Purchase $1.45MConstruction $750KSale $3.8M
Purchased
Sep 2018
- 30 months
Sold
Apr 2021
Figures as reported in the Prime Equity portfolio. Past performance is not indicative of future results.
Gallery
Property Details
- Project Type
- Alteration Type I (major)
- Property
- 4-unit condo building
- Completed
- April 2021
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