Andrew McNay Purchases Mixed-Use Property At 1094 Hancock Street For $1,750,000

The property asset involved in the transaction is a mixed-use building located at 1094 Hancock Street, Bushwick, Brooklyn. It features 1 commercial unit and 4 residential units. The sale price for the property was $1,750,000, with a total of 5 units available, resulting in a price per unit of $350,000. The total square footage of the property is 3,600, which translates to a price per square foot of $486.

Summary of transaction details:

• Property Type: Mixed-use (1 Commercial & 4 Residential)
• Transaction Amount: $1,750,000
• Units: 5
• Price Per Unit: $350,000
• Square Footage: 3,600
• Price Per Square Foot: $486
• Buyer: Andrew McNay
• Seller: Felix Serrano
• Brokers: Derek Bestreich, Steve Reynolds, Brian Davila & Tom Reynolds - Investment Property Realty Group

The transaction was notable as the property was delivered vacant, which may provide the new owner the opportunity to implement their vision without current tenant obligations. The brokerage team from Investment Property Realty Group facilitated this transaction.