The property involved in the transaction is a vacant, renovated Tax Class 2B building located at 16 Monroe Place in Brooklyn Heights. It offers a rare opportunity for future condo conversion. The property spans 10,500 square feet and was sold for a price of $7,850,000, resulting in a price per square foot of $747.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,850,000
• Address: 16 Monroe Place
• Market: Brooklyn Heights
• Seller: Sugar Hill Capital Partners
• Brokers: Adam J. Hess & Edward Setton - Meridian Capital Group, Morris Sabbagh, Abraham Kassin, Salomon Cojab, Ceasar Salama & Greg Dweck - KSR Capital
• SF: 10,500
• PPSF: $747

This transaction was facilitated by brokers Adam J. Hess and Edward Setton from Meridian Capital Group, along with Morris Sabbagh, Abraham Kassin, Salomon Cojab, Ceasar Salama, and Greg Dweck from KSR Capital. The property represents the second vacant building in Brooklyn Heights that @TeamHessBK has sold this year. For similar opportunities in the Brooklyn market, interested parties can reach out to Adam or Eddie at [email protected] or [email protected].