Howard Chong Purchases Multifamily Brownstone In Brooklyn From Ron Brandt For $2.85M
415 2nd Street
$2,850,000
$1,013/SF
Building Size
2,812 SF
Asset Type
MultiFamily
Closing
May 15, 2026
AI
The sale involved a multifamily asset located at 415 2nd Street in Brooklyn, with a total sale price of $2,850,000. The property comprises 2,812 square feet, translating to a price per square foot of $1,013.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,850,000
- Address: 415 2nd Street
- Market: Brooklyn
- Sale Price per Square Foot: $1,013
- Square Footage: 2,812
- Buyer: Howard Chong
- Seller: Ron Brandt
- Brokers: John Brennan & Sam Potolsky - Marcus & Millichap
John Brennan and Sam Potolsky, representing the seller, facilitated the transaction through an extensive marketing process that resulted in 24 offers. They can be contacted to discuss achieving premium pricing on the sale of investment properties in Brooklyn.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.57%
Cash-on-Cash
-1.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93