John & William Walsh Acquire Multifamily Property At 571 8th Street Brooklyn For $3.1M

The asset involved in this transaction is a multifamily property located at 571 8th Street in Brooklyn. The transaction was completed at a sale price of $3,100,000, with a total square footage of 6,196, resulting in a price per square foot of $500.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $3,100,000
• Address: 571 8th Street
• Market: Brooklyn
• Buyer: John & William Walsh
• Seller: Raymond Mokarry Family Trust
• Buyer's Representative: Belle Caplis - Compass
• Seller's Representatives: Ian Mednick & Paul Hyun - Compass
• Square Footage: 6,196
• Price Per Square Foot: $500

The transaction was notably marked by collaboration among brokers, with Belle Caplis representing the buyers while both Ian Mednick and Paul Hyun represented the sellers. The sale achieved 100% of the asking price and facilitated a successful 1031 Exchange for the buyer, aligning their investment goals with the seller’s objectives.