Margules Properties Acquires Multi-Family Property In Brooklyn For $3.46M

In a closed transaction on May 30, 2018, Margules Properties purchased a multi-family property located at 266 East 21st Street in Brooklyn, New York. The property, consisting of 24 units and measuring 18,140 square feet, was sold by the John Family Estate for a total price of $3,465,000. This equates to a price per square foot of $191 and a unit price of $165,000.

Summary of transaction details

• Property Type: Multi Family
• Transaction Amount: $3,465,000
• Market: Brooklyn
• Address: 266 East 21st Street, New York
• Square Footage: 18,140
• Price per Square Foot: $191
• Number of Units: 24
• Unit Price: $165,000

Gardner Rivera, representing Paper City Real Estate, acted as the buyer's broker in this transaction. The seller's broker was Chrystal Reid. The deal represents a successful purchase by Margules Properties, demonstrating their continued investment in the Brooklyn market.