Northgate Real Estate Group Sells Mixed-use Property At 1580 Nostrand Avenue For $70M

The mixed-use property located at 1580 Nostrand Avenue in Brooklyn has been sold for $70,000,000. This asset comprises 310 units and encompasses a total square footage of 260,000. The price per unit stands at $225,806 while the price per square foot is $269.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $70,000,000
• Units: 310
• Square Footage: 260,000
• Price Per Unit: $225,806
• Price Per Square Foot: $269

Greg Corbin and Chaya Milworn from Northgate Real Estate Group represented the sale of the property, which was executed through a bankruptcy sale.