Pir Granoff & Douglas Baillie Acquires Crown Heights Multifamily For $4.5M

A multifamily property located at 60 New York Avenue in Crown Heights, Brooklyn was recently sold in a transaction. The property consists of 8 units and spans a total area of 9,584 square feet. The sale price for this transaction was $4,500,000, resulting in a price per unit of $562,500 and a price per square foot of $470. The transaction was completed with a capitalization rate of 5.98%.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $4,500,000
• Units: 8
• Price per Unit: $562,500
• Square Feet: 9,584
• Price per Square Foot: $470
• Capitalization Rate: 5.98%

Pir Granoff and Douglas Baillie of Aperture Holdings purchased the property from CBZ Management. The transaction was facilitated by brokers Shaun Riney and Daniel Greenblatt from NewYorkMultifamily and MarcusMillichap_NY, respectively.