John Mccarthy Of HUBB NYC Properties Acquires Mixed-use Portfolio In Brooklyn For $54M

This transaction involved a mixed-use portfolio located at 595 Baltic Street and 577 Baltic Street in the Brooklyn market. The asset comprises 3 commercial units and 97 residential units, totaling 100 units. The sale price for the portfolio was $54,000,000, with a price per unit of $540,000. The total square footage of the properties is 79,978, resulting in a price per square foot of $675.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $54,000,000
• Buyer: John Mccarthy - HUBB NYC Properties
• Seller: Omri Sachs - Adam America Real Estate
• Seller's Representative: Haley Hasho & Joey Mohsen - Exodus Capital
• Units: 100
• Square Footage: 79,978
• Price Per Unit: $540,000
• Price Per Square Foot: $675

The deal was represented by Haley Hasho and Joey Mohsen of Exodus Capital, who highlighted that the package includes two elevator-served, newly constructed assets with 421A tax abatements expiring in 2031.