Sollevare Group Acquires Mixed-Use Property From Safra Family In Brooklyn For $5.1M

The property asset involved in the transaction is a mixed-use building located at 122 Montague Street in Brooklyn. It features 3 residential units and 1 commercial unit. The sale was finalized at a price of $5,100,000, with a total of 5 units, resulting in a price per unit of $1,020,000. The total square footage of the asset is 7,250, which translates to a price per square foot of $703.

In this transaction, Sollevare Group has sourced and acquired the asset off-market from the Safra Family, achieving a notable 32.5% discount compared to its previous purchase price of $7,575,000 in 2016.