Jordan Baker Purchases Multifamily Asset At 508 Hancock Street Brooklyn For $1.7M With Katerina Morosan As Buyer's Rep

The multifamily asset located at 508 Hancock Street in Brooklyn has a sale price of $1,700,000. The building comprises 2 units and has a total square footage of 3,260, which results in a price per unit of $850,000 and a price per square foot of $521.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,700,000
• Buyer: Jordan Baker
• Seller: David Young
• Buyer's Representative: Katerina Morosan - EXP Realty
• Seller's Representatives: Joshua Malekan & Judah Schur - Bridge Advisory Group
• Units: 2
• Square Feet: 3,260
• Price Per Unit: $850,000
• Price Per Square Foot: $521

The seller's representatives noted that the vacant building benefits from a J-51 tax abatement. They expressed that, given current market conditions, they believe the building's value does not exceed $1.4 million, and the property was sold as is with a 30-day close. The transaction highlighted the successful sourcing of a qualified end user through long-standing relationships and targeted outreach by the brokers involved.