Wan Tim Wong Acquires Multifamily Property In Bensonhurst For $1.73M

The sale of a multifamily property in Bensonhurst, Brooklyn has been completed. The property, located at 2225 85th Street, was sold for a price of $1,730,000. The buyer in this transaction is Wan Tim Wong, while the seller is the Gitlitz Family. The deal was facilitated by brokers John Brennan & Matt Dittmeier from Marcus & Millichap. The property consists of three units, with a total square footage of 3,630. The price per unit is $576,666, and the price per square foot is $476.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,730,000
• Units: 3
• Square Footage: 3,630
• Buyer: Wan Tim Wong
• Seller: Gitlitz Family
• Brokers: John Brennan & Matt Dittmeier - Marcus & Millichap

The sale process attracted significant interest, with 29 written bids received. Ultimately, an all-cash offer that exceeded the asking price by $230,000 was selected. The property is conveniently located near the intersection of Bay Parkway and 86th Street in Bensonhurst. At the time of closing, the building was delivered vacant, presenting an opportunity for the buyer to utilize the space according to their needs.