TerraCRG Brokers $41.88M Sale Of Multifamily Portfolio In Midwood, Brooklyn

The multifamily properties located at 550 East 21st St., 850 East 17th St., 855 East 19th St., and 3111 Aurelia Court in Midwood, Brooklyn were recently sold. The transaction took place on 03/24/2022 and the sale price amounted to $41,880,000. The properties include a total of 246 units, with an average price per unit (PPU) of $170,243. The total square footage of the properties is 251,762, resulting in an average price per square foot (PPSF) of $166.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $41,880,000
• Units: 246
• Price per Unit (PPU): $170,243
• Total Square Footage: 251,762
• Price per Square Foot (PPSF): $166

The sellers of these properties were the Kraus Family and Livingston Family. The sale was facilitated by Ofer Cohen, Matt Cosentino, Daniel Lebor, Ben Robbins, and Isaiah Thomas of TerraCRG.