John Wallace Acquires Multifamily Property At 138 Havemeyer Street Brooklyn From SHEL Capital For $3.1M

The asset involved in this transaction is a multifamily property located at 138 Havemeyer Street in Brooklyn. It consists of 3 units with a sale price of $3,100,000. The total square footage of the property is 2,730, leading to a price per unit of $1,033,333 and a price per square foot of $1,135.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,100,000
• Units: 3
• Square Footage: 2,730
• Price Per Unit: $1,033,333
• Price Per Square Foot: $1,135
• Buyer: John Wallace
• Seller: SHEL Capital
• Brokers: Shaun Riney & Michael Salvatico - Marcus & Millichap
• Cap Rate: 5.85%
• Property Tours Conducted: 1 (off-market)

Shaun Riney and Michael Salvatico represented the seller, SHEL Capital, in this transaction. The brokers originally sold the property in 2020 for $1,830,000, completing a round trip for the sellers over a 5-year hold.