The Michel Family Acquires South Slope Multifamily For $2.2M | 399 17th Street | Anand Melwani | MultiFamily | Sale

Summary

Sale

NEW YORK

MultiFamily

4,236 sqft

An off-market multifamily property located at 399 17th St. in South Slope, Brooklyn has been sold for a price of $2,200,000. The property consists of 6 units with a total square footage of 4,236. The sale price per unit is approximately $366,666, while the price per square foot is $519.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $2,200,000
Address: 399 17th St.
Market: South Slope, Brooklyn

The buyer in this transaction is The Michel Family, while the seller is The Montemarano Family. Anand Melwani from ARM Real Estate Group represented both the buyer and the seller in this deal. This was the first sale of the property in 38 years. Out of the 6 units, 5 were deregulated and the deal closed at a 5 cap.

For more information, interested parties can contact Anand Melwani of ARM Real Estate Group at (212)-464-8815 or via email at [email protected]. Additional details can also be found on the website www.armre.com.

Players

All
2

Agents
1
Agencies
1

Anand Melwani

Principal

$71.3M Sold

Arm Real Estate Group

Details

Deal Summary

SOLD

IMAGE: Anand Melwani DATE: 04/20/2022 ADDRESS: 399 17th St. MARKET: South Slope, Brooklyn ASSET TYPE: Multifamily BUYER: The Michel Family SELLER: The Montemarano Family BROKER: Anand Melwani (@RumpusBoy) - ARM Real Estate Group (@ARMRealEstateNYC) SALE PRICE: $2,200,000 UNITS: 6 ~ PPU: $366,666 SF: 4,236 ~ PPSF: $519 NOTE: Anand Melwani of ARM Real Estate Group represented the buyer & the seller in this off market deal. First sale in 38 years. 5 out of the 6 units were deregulated & traded at a 5 cap. Anand Melwani (212)-464-8815 [email protected] www.armre.com

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Address399 17th Street

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