The Gelfand Family Sells Mixed-Use Property In Williamsburg, Brooklyn For $2.075M

The mixed-use property located at 398 Manhattan Avenue in Williamsburg, Brooklyn has been sold. The property consists of 5 units with a total square footage of 4,125. The sale price for the property was $2,075,000, resulting in a price per unit of $415,000 and a price per square foot of $503.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $2,075,000
• Units: 5
• Price per Unit: $415,000
• Square Footage: 4,125
• Price per Square Foot: $503
• Market: Williamsburg, Brooklyn

The buyer of the property has chosen to remain undisclosed. The seller of the property is the Gelfand Family. The transaction was facilitated by Shaun Riney, Michael Salvatico, and Sam Leppo from New York Multifamily at Marcus & Millichap. It is worth noting that the property was sold to an end-user who intends to operate their business on the ground floor. The retail space was delivered vacant. This transaction is one of three that the team at New York Multifamily will be closing this month with end-users as the ultimate buyers.