Chase Chehadeh Acquires 122 Hoyt Street Multifamily In Brooklyn For $3,200,000

The property asset involved in this transaction is a MultiFamily building located at 122 Hoyt Street, Brooklyn. It was sold for $3,200,000 and has a total square footage of 3,608, resulting in a price per square foot of $886. The property was previously in shell condition due to a fire that left it distressed for over a decade prior to the sale.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $3,200,000
• Address: 122 Hoyt Street
• Market: Brooklyn
• Square Footage: 3,608
• Price Per Square Foot: $886
• Buyer: Chase Chehadeh
• Seller: Joseph Davoudzadeh
• Brokerage: Marcus & Millichap
• Brokers: Shaun Riney, Michael Salvatico & Will Carbonari

The transaction featured Chase Chehadeh as the buyer, acquiring the property from seller Joseph Davoudzadeh. The deal was facilitated by brokers Shaun Riney, Michael Salvatico, and Will Carbonari representing the brokerage firm Marcus & Millichap. The property closed amidst a notable level of distress, creating a unique opportunity in the market.