Shamco Acquires Multifamily Property In Crown Heights, Brooklyn For $20.1M

A multifamily property located at 283 Albany Avenue in Crown Heights, Brooklyn, New York has been sold for $20,100,000. The property consists of 53 units, with an average price per unit of $379,245. The sale was closed with a capitalization rate of 4%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $20,100,000
• Units: 53
• Price Per Unit: $379,245
• Capitalization Rate: 4%
• Address: 283 Albany Avenue, New York
• Market: Crown Heights, Brooklyn

The seller of the property was Silvershore Properties, represented by Jason Silverstein and David Shorenstein. The buyer, Shamco, was represented by Alan Shamah. The deal was facilitated by Barcel Group.