Marcus & Millichap Sells Multi-Family Portfolio In Brooklyn For $10.25M

The transaction involves multiple multi-family buildings located at 276 Throop Avenue, 257 Quincy Street, 308 Stuyvesant Avenue, and 570 Jefferson Avenue in the Brooklyn market. The collective sale price for these properties is recorded at $10,250,000, encompassing a total of 62 units. The total square footage amounts to 42,278, resulting in a price per unit of $165,323 and a price per square foot of $242.

Summary of transaction details:

• Property Type: Multi-Family
• Transaction Amount: $10,250,000
• Units: 62
• Square Footage: 42,278
• Price Per Unit: $165,323
• Price Per Square Foot: $242
• Broker: Matt Fotis - Marcus & Millichap

Matt Fotis of Marcus & Millichap represented the seller in facilitating this transaction. The buildings were strategically grouped across two distinct portfolios to optimize the disposition process and enhance the property value within the AEP program.