Elliot Tamir Acquires Multifamily Property In Brooklyn From Jacob Sacks For $5.85M

The property asset involved in this closed transaction is a multifamily building located at 285 Troutman Street & 287 Wyckoff Avenue in Brooklyn. The sale price for the property was $5,850,000, and it has a total square footage of 4,500, translating to a price per square foot of $1,300.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,850,000
• Square Footage: 4,500 SF
• Price per Square Foot: $1,300
• Buyer: Elliot Tamir
• Seller: Jacob Sacks
• Brokers: Shaun Riney, Michael (Mike) Salvatico & Vincent Tomaselli - Marcus & Millichap

The transaction featured contributions from brokers Shaun Riney, Michael (Mike) Salvatico, and Vincent Tomaselli, all from Marcus & Millichap, representing the buyer and seller in the deal. Special thanks were mentioned for Aaron Boyajian, esq. for seller counsel. Additionally, there are two deregulated brick eight-family properties at 297 and 311 Troutman, which remain available for sale, positioned with a 7.25% cap rate and potential to reach an 8% cap rate with updates to vintage renovations.