Investment Property Realty Group Acquires Multifamily Property In Clinton Hill, Brooklyn For $11.75M

A new construction multifamily property located at 598-600 Myrtle Ave. in Clinton Hill, Brooklyn has been sold for a total price of $11,750,000. The property consists of 17 units, with an average price per unit of $691,176. The total square footage of the property is 13,860, resulting in a price per square foot of $847. This A1 conversion project offers attractive features and a prime location in Clinton Hill.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $11,750,000
• Address: 598-600 Myrtle Ave., Clinton Hill, Brooklyn
• Market: Clinton Hill, Brooklyn
• Units: 17
• Price per Unit: $691,176
• Square Footage: 13,860
• Price per Square Foot: $847

The sale of this multifamily property was facilitated by Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, and Daniel Shawah of Investment Property Realty Group (IPRG). These brokers represented both the buyer and the seller in this transaction, showcasing their expertise and success in the real estate market. The deal involved a new construction project with A1 conversions, further adding to the appeal and value of the property.