Maverick Real Estate Partners Sells 1157 Myrtle Avenue Multifamily In Brooklyn For $4.2M

The transaction involves the sale of a multi-family asset located at 1157 Myrtle Avenue, Brooklyn. It features a newly constructed four-story mixed-use building completed in 2018. The property consists of 13,055 square feet, is fully leased, and includes 11 units with a sale price of $4,200,000, resulting in a price per unit of $381,818 and a price per square foot of $321. The building benefits from a 421-a tax exemption valid through 2053 and occupies an irregular block-through lot with dual frontage along Myrtle Avenue and Jefferson Street in the Bushwick neighborhood.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $4,200,000
• Units: 11
• Square Footage: 13,055
• Price per Unit: $381,818
• Price per Square Foot: $321
• Seller: Maverick Real Estate Partners
• Broker Representatives: Ian Brooks, Robert Shapiro, Nicholas Kontos & David Garcia - CBRE

CBRE acted as the exclusive agent and sole broker for the transaction, successfully facilitating the sale of the property. The brokers involved, Ian Brooks, Robert Shapiro, Nicholas Kontos, and David Garcia, played key roles in ensuring the transaction proceeded smoothly, culminating in a beneficial agreement for both the seller and buyers.