East Group Capital Acquires Multifamily Property In Brooklyn For $1.35M

The multifamily property located at 1656 Dekalb Avenue in Brooklyn has been sold in a closed transaction. The property spans a total of 5,175 square feet and was listed with an asking price of $1,500,000. The final sale price for the property was $1,350,000, resulting in a price per square foot of $260.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,350,000
• Address: 1656 Dekalb Avenue, Brooklyn
• Square Footage: 5,175
• Market: Brooklyn

The sellers of the property were identified as Michael Siegel and Michael Sternberg. The buyer in this transaction was East Group Capital. Representing the seller was Daniel Tropp, while the buyer was represented by Jonathan Berman from Ariel Property Advisors.