Adam J Hess & Edward Setton Of Meridian Capital Group Sell 16-Unit Multifamily In Gowanus, Brooklyn For $6.35M

The multifamily property located at 566 & 568 Baltic Street in Gowanus, Brooklyn has been sold for a total price of $6,350,000. This property is composed of 16 units, with a per unit price of $396,875. The total square footage of the property is 10,800, with a price per square foot of $588. The transaction occurred on 08/15/2023, and the property boasts a cap rate of 6.5%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,350,000
• Units: 16
• Price per Unit: $396,875
• Square Footage: 10,800
• Price per Square Foot: $588
• Cap Rate: 6.5%

The brokers involved in this transaction were Adam J Hess and Edward Setton from the Meridian Capital Group. They played a vital role in facilitating the sale of the property at 566 & 568 Baltic Street in Gowanus, Brooklyn. Their expertise and negotiation skills were instrumental in achieving the final sale price. The trust and confidence placed in them by their clients highlight their strong reputation in the real estate industry.