Renaissance Realty Group Acquires 725 Dumont Avenue, 715 Dumont Avenue And 1647 Park Pl For $3.2M In Brooklyn

Fred Elle has sold three properties in Brooklyn, New York: 725 Dumont Avenue, 715 Dumont Avenue, and 1647 Park Pl. These properties are mixed-use apartment buildings with a total of 18 units and a combined square footage of 14,640. The transaction took place on February 2, 2018, with a sale price of $3,200,000. This equates to a price per square foot of $218 and a unit price of $177,000. The cap rate for this deal is 6%.

Summary of transaction details:

• Property Type: Mixed Use/Apartment Buildings
• Transaction Amount: $3,200,000
• Square Footage: 14,640 sf
• Price per Square Foot: $218
• Units: 18
• Price per Unit: $177,000
• Cap Rate: 6%

Renaissance Realty Group, represented by Adir Cohen (@Mr_Cohen88), purchased the properties from Fred Elle. The deal was facilitated by Gabi Peretz and Danny Laniado of Really NY LLC.