Elliot Frankel Acquires Mixed-Use And Multifamily Properties In Brooklyn For $4.7M

Three properties located at 936 Atlantic Avenue, 958 Atlantic Avenue, and 70 New York Avenue in Brooklyn, New York have been involved in a closed transaction. The mixed-use, multifamily assets were sold for a price of $4,700,000, resulting in a price per square foot of $357. The cap rate for the deal was 4.5%.

Summary of transaction details

• Property Type: Mixed-Use, Multifamily
• Transaction Amount: $4,700,000
• Price per Square Foot: $357
• Cap Rate: 4.5%
• City: New York
• Market: Brooklyn

Neil Kupferman acted as the seller in this transaction, while Elliot Frankel was the buyer. The brokerage firm @TerraCRG represented both parties in the deal, with Adam Hess and Eddie Setton serving as the brokers.