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253 Irving Avenue

Alex Sze Acquires Mixed-use Property At 253 Irving Avenue Brooklyn For $3.9M With Marcus & Millichap
SOLDMixed-use

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

Michael Salvatico

Marcus & Millichap

Broker

$787M

vol

173 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

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