James Grasso Acquires MultiFamily Property In Brooklyn For $5.75M

The property involved in this transaction is located at 1240 Pacific Street, Brooklyn. It is a multi-family asset with a total of 5 units. The sale price for this property was $5,750,000, resulting in a per unit price of $1,150,000. The total square footage of the property is 9,735, with a price per square foot of $591.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $5,750,000
• Address: 1240 Pacific Street, Brooklyn
• Market: Brooklyn
• Units: 5
• Price Per Unit: $1,150,000
• Total Square Footage: 9,735
• Price Per Square Foot: $591

In this deal, the buyer was James Grasso, while the seller was Leonard Thomas. The brokers involved in the transaction were Adam Traub and Matthew Dwyer from Curb Capital.

This off-market transaction was executed quickly and effectively by Curb Capital, delivering a high yield for the seller. The buyer, Cohabs, will reposition the property into co-living after acquiring it vacant. For more information about this sale and other discreet investment opportunities, please contact Matthew Dwyer at [email protected].