Parlanti Group Purchases Multifamily Asset At 350 Ocean Avenue In Brooklyn For $1.84M

The property involved in this transaction is a multifamily asset located at 350 Ocean Avenue in Brooklyn. The sale price for the property was $1,840,000, and it comprises 22 units across a total square footage of 16,300, resulting in a price per unit of $83,636 and a price per square foot of $112.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,840,000
• Address: 350 Ocean Avenue
• Market: Brooklyn
• Units: 22
• Square Footage: 16,300
• Price Per Unit: $83,636
• Price Per Square Foot: $112
• Buyer's Representative: Zachary Fuchs - GFI Realty Services
• Seller's Representatives: Robert Shapiro, Ian Brooks, Nicholas Kontos & David Garcia - CBRE
• Seller's Attorney: Bryan McCrossen Esq. - Jaspan Schlesinger Narendran

The deal involved key individuals and firms, including the buyer, Parlanti Group, represented by Zachary Fuchs from GFI Realty Services. The sellers were represented by a team from CBRE consisting of Robert Shapiro, Ian Brooks, Nicholas Kontos, and David Garcia. Additionally, the transaction was overseen by the seller's attorney, Bryan McCrossen Esq. from Jaspan Schlesinger Narendran. This property was owned by the same family for decades and is fully rent regulated, presenting a basis opportunity for long-term investors.