Chen Family Purchases Brooklyn Multifamily From Mann Group For $850,000 With Brokers DJ Johnston & Evan Kashanian

The property involved in this transaction is a multifamily building located at 155 Evergreen Avenue in Brooklyn, featuring six units. The asset was sold for $850,000, which equates to a price per unit of $141,666 and a total square footage of 3,900, giving it a price per square foot of $217.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $850,000
• Buyer: Chen Family
• Seller: Mann Group
• Units: 6
• Square Footage: 3,900
• Price per Unit: $141,666
• Price per Square Foot: $217

The deal was brokered by DJ Johnston and Evan Kashanian from Matthews Real Estate Investment Services. Notably, the buyer is an Arizona-based family making their first property investment in New York City, intending to occupy one of the apartments while renting out the rest. Additionally, Andrew Marcus, FVP of Capital Markets at Matthews REIS, assisted the buyer with financing and navigated the challenges encountered during the purchasing process.