Kakran Uppal Acquires Mixed-Use Property On Grand Street In Brooklyn For $3.05M

The property asset involved in the transaction is a mixed-use building located at 347 Grand Street, Brooklyn. The sale price for this asset was $3,050,000, which equates to a price per unit of $1,525,000. The building encompasses a total square footage of 4,170, resulting in a price per square foot of $731.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $3,050,000
• Units: 2
• Square Footage: 4,170
• Price Per Unit: $1,525,000
• Price Per Square Foot: $731
• Buyer: Kakran Uppal
• Seller: Vanessa Shanks
• Buyer's Representative: Justin Zucker - Brown Harris Stevens
• Seller's Representatives: Ronald Cohen, Magal Gabay - Besen Partners; Robert Peguero - Bedford Realty

This transaction was executed as a sale-leaseback, with the seller leasing the 2,400 square foot retail space for a 5-year term.