Zin Family Acquires Mixed-Use Property From Ismael Mohammed In Brooklyn For $2.675M

This mixed-use property at 313 Knickerbocker Avenue, located in Brooklyn, features 8 residential units and 2 retail spaces. The asset was sold for $2,675,000, with a total of 10 units resulting in a price per unit of $267,500. The property spans 8,375 square feet, translating to a price per square foot of $319. Rent stabilized apartments are present above vacant retail space.

Summary of transaction details:

• Property Type: Mixed-use / End-User
• Transaction Amount: $2,675,000
• Buyer: Zin Family
• Seller: Ismael Mohammed
• Broker: DJ Johnston - Matthews
• Units: 10
• Price Per Unit: $267,500
• Square Feet: 8,375
• Price Per Square Foot: $319

DJ Johnston represented the transaction, highlighting that the property was sold to an end-user. While it may pose challenges for traditional investors, the sale signifies a valuable opportunity for a buyer like the Zin Family who aligns well with the asset's profile.