Alex Friedman Of FG Residential Sells Mixed-Use Property At 40 4th Avenue For $3.03M

The property involved in this transaction is a mixed-use building located at 40 4th Avenue in Brooklyn. It consists of 1 commercial unit and 5 residential units. The sale price of the building was $3,025,000, with a total square footage of 4,000, resulting in a price per square foot of $756. The property includes a total of 6 units, translating to a price per unit of $504,167.

Summary of transaction details:

• Property Type: Mixed-use (1 Commercial & 5 Residential)
• Transaction Amount: $3,025,000
• Units: 6
• PPU: $504,167
• SF: 4,000
• PPSF: $756
• Seller: Alex Friedman - FG Residential
• Brokers: Shaun Riney, Andrew Bronsteen & Michael (Mike) Salvatico - Marcus & Millichap

The New York Multifamily team at Marcus & Millichap facilitated this sale. Notably, the building was previously sold to the now-sellers for $2,350,000 back in 2020.