MNB Developers Acquires 198 Madison Street Multifamily Property From Evans Family For $1.385M

The property asset involved in this transaction is a multi-family building located at 198 Madison Street in the Bedford-Stuyvesant market. The sale price was $1,385,000 for the vacant four-story, two-family structure, which encompasses a total square footage of 3,200 SF. The property was sold with a price per unit of $692,500 and a price per square foot of $433. The building had numerous construction issues and had been vacant for a number of years.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $1,385,000
• Units: 2
• Square Footage: 3,200
• Price Per Unit: $692,500
• Price Per Square Foot: $433
• Buyer: MNB Developers
• Seller: Evans Family
• Brokers: Sadya Liberow & Natali Gil - Asset CRG Advisors

Sadya Liberow and Natali Gil represented both the buyer, MNB Developers, and the seller, Evans Family, in this transaction. Asset CRG Advisors, LLC facilitated the sale of the property, emphasizing their expertise in handling real estate transactions.