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221 Nassau Avenue

James Grasso Of Cohabs Acquires Mixed-Use Building In Brooklyn For $3 Million
SOLDMixed-use

James Grasso Of Cohabs Acquires Mixed-Use Building In Brooklyn For $3 Million

221 Nassau Avenue

$3,000,000

$625/SF

Building Size

4,800 SF

Asset Type

Mixed-use

Closing

Jun 24, 2026

AI

221 Nassau Avenue is a mixed-use property located in Brooklyn, featuring four residential units and one commercial unit. The sale was finalized at a price of $3,000,000, resulting in a per-unit price of $600,000. The building spans a total of 4,800 square feet, leading to a price per square foot of $625.

Summary of transaction details:

  • Property Type: Mixed-use (4 Residential & 1 Commercial Unit)
  • Transaction Amount: $3,000,000
  • Units: 5
  • Price Per Unit: $600,000
  • Square Footage: 4,800
  • Price Per Square Foot: $625
  • Buyer: James Grasso - Cohabs
  • Seller: Koutros Family
  • Seller's Representative: Jeff Valcourt - Compass
  • Market: Brooklyn

Jeff Valcourt represented the Koutros Family in this transaction, highlighting the complexities involved that were expertly managed to successfully conclude the sale of the property, which had been held by the same family for over 70 years.

Players

Jeff Valcourt

Compass

Broker

$13.9M

vol

6 deals

Broker
James Grasso

James Grasso

Cohabs

Buyer

$46M

vol

13 deals

Buyer

Brooklyn Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93