East Group Capital Acquires Multifamily Property In Brooklyn For $1.2M

A multifamily property located at 341 Tompkins Ave in Brooklyn was recently sold in a closed transaction. The property is zoned as R6A and spans a total of 3,487 square feet. The sale took place on December 17, 2020.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,200,500
• Address: 341 Tompkins Ave
• Market: Brooklyn
• Zoning: R6A

The buyer of the property was East Group Capital, represented by Ofir Badash and Itay Gamlieli. The seller was Elliot Frankel. The property was purchased for a price of $1,200,500, resulting in a price per square foot value of $344. The previous sale of the property took place in March 2019 for $1,015,000.

East Group Capital has been an active investor in Brooklyn during 2020 and is known for their quick cash closings and creative problem-solving skills. They are currently seeking 1-8 multifamily or mixed-use opportunities with added value, new construction, or existing structures for the year 2021. For further inquiries, they can be contacted at [email protected].