Xiangan Gong Purchases Mixed-use Property From Elo Family At 768 Flatbush Avenue For $1.475M

The property is a mixed-use asset located at 768 Flatbush Avenue in Brooklyn. It was sold for $1,475,000 with a total square footage of 4,420, resulting in a price per square foot of $333. The ground floor retail space was occupied at the time of closing, and the upper floors were delivered vacant and inaccessible due to modifications made over a decade ago.

Summary of transation details:

• Property Type: Mixed-use
• Transaction Amount: $1,475,000
• Address: 768 Flatbush Avenue
• Market: Brooklyn
• Square Footage: 4,420
• Price per Square Foot: $333
• Buyer: Xiangan Gong
• Seller: Elo Family
• Broker Representatives: Jermaine Pugh & DJ Johnston - Matthews Real Estate Investment Services

The ground floor was under an existing lease with roughly one year remaining at the time of sale. The brokers, utilizing the Matthews platform, strategically located a buyer with a value-add appetite and a long-term vision for the property. For any inquiries, Jermaine Pugh can be contacted via text or call at (201) 850-0762.