Matthew Fernandez Of OpenKey™ Represents Buyer In Sale Of Brooklyn Mixed-use Property For $8.5M

A mixed-use property located at 369 7th Avenue in Brooklyn has been successfully sold. The asset comprises 2 commercial units and 10 residential units, with a total of 12 units. The sale price was $8,500,000, translating to a price per unit of $708,333. The property spans 9,545 square feet, which results in a price per square foot of $890.

Summary of transaction details:

• Property Type: Mixed-use (2 Commercial & 10 Residential)
• Transaction Amount: $8,500,000
• Units: 12
• Price Per Unit: $708,333
• Square Footage: 9,545
• Price Per Square Foot: $890
• Buyer's Representative: Matthew Fernandez - OpenKey™
• Seller's Representatives: Edward Setton & Adam J Hess - Sterling Property Group NY

The transaction was facilitated with the cooperation of Sterling Property Group and OpenKey RE, who successfully sourced separate buyers for the residential and retail condos, culminating in a simultaneous closing.