Elliot J. Tamir & Isaac J. Sitt Acquire Multifamily Asset In Brooklyn For $3M

A five-unit multifamily property was sold for $3,000,000 located at 285 Troutman Street in Brooklyn. The total square footage of the asset is 3,750, which translates to a price per square foot of $800. Each unit has an average price per unit of $600,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,000,000
• Address: 285 Troutman Street
• Market: Brooklyn
• Square Footage: 3,750
• Price per Square Foot: $800
• Units: 5
• Price per Unit: $600,000
• Buyer: Elliot J. Tamir & Isaac J. Sitt - Vesper Holdings
• Seller: Cayuga Capital Management

Vesper Holdings, represented by Elliot J. Tamir and Isaac J. Sitt, acquired the property from Cayuga Capital Management. The transaction was processed through Castor Development LLC, with plans to maintain the property as a cash-flowing asset.