Emad Hamdan Purchases 310 East 25th Street Multifamily Property For $1,585,000 In Brooklyn

This multi-family asset, located at 310 East 25th Street in Brooklyn, has a sale price of $1,585,000. The property comprises 12,844 square feet and features 19 units, all of which are fully rent-stabilized.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $1,585,000
• Square Footage: 12,844
• Price Per Square Foot: $123
• Buyer: Emad Hamdan
• Seller: Mitchell Rutter
• Brokers: Shaun Riney, Seth Glasser & Daniel Greenblatt - Marcus & Millichap

The deal was notable for closing despite 65 open violations and significant arrears, demonstrating the potential for rent-stabilized assets to trade effectively when the process is handled appropriately. The brokers encourage those considering the sale of similarly challenging properties to seek an initial valuation from the deal team.