Tina Chong Buys Multifamily Asset In Gowanus, Brooklyn For $5M

The property at 137 Prospect Avenue in Gowanus, Brooklyn was recently sold for $5,000,000. This multifamily asset consists of 9 units with a total square footage of 8,650. The price per unit was approximately $555,556, and the price per square foot was $578. The transaction resulted in a 6.38% Cap Rate.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,000,000
• Units: 9
• Square Footage: 8,650
• Price per Unit: $555,556
• Price per Square Foot: $578
• Address: 137 Prospect Avenue, Gowanus, Brooklyn
• Market: Gowanus, Brooklyn

The property was sold to Tina Chong by brokers DJ Johnston, Henry Hill, Jermaine Pugh, Bryan Kirk, and Bobby Lawrence from Matthews Real Estate Investment Services. The sale was facilitated by DJ Johnston, who specializes in newly constructed multifamily properties in Brooklyn. The property, constructed in 2020, is a 9-unit walkup benefiting from a 421A Abatement. DJ leveraged his 15 years of experience selling buildings in Brooklyn to secure a 1031 buyer, with the sale price resulting in a 6.38% Cap Rate and $578 per square foot.