Alex Sze Acquires Mixed-use Property At 253 Irving Avenue Brooklyn For $3.9M With Marcus & Millichap
253 Irving Avenue
$3,900,000
$472/SF
Building Size
8,250 SF
Asset Type
Mixed-use
Closing
May 28, 2025
AI
The property asset involved in the transaction is a mixed-use building located at 253 Irving Avenue, Brooklyn. The sale price for the property was $3,900,000, which comprises 4 units. The total square footage of the property is 8,250, translating to a price per unit of $975,000 and a price per square foot of $472.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,900,000
- Buyer: Alex Sze
- Seller: Sam J Adler
- Brokers: Shaun Riney, Michael (Mike) Salvatico, Vincent Tomaselli & Will Carbonari - Marcus & Millichap
This distinct transaction involved key individuals, including purchaser Alex Sze and seller Sam J Adler, who were represented by their respective brokers from Marcus & Millichap. The deal occurred on May 29, 2025, marking a significant transaction in the Brooklyn market.
Players
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
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93