Kumar Family Purchases MultiFamily Property From Esposito & DePaola Families For $1.025M

The property asset involved in the transaction is a multi-family building located at 66 Sullivan Street in the Red Hook area of Brooklyn. This fully rent-stabilized six-family property was sold for $1,025,000. The building comprises 4,860 square feet, resulting in a price per unit (PPU) of $170,833 and a price per square foot (PPSF) of $210.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $1,025,000
• Units: 6
• Square Footage: 4,860
• Price Per Unit: $170,833
• Price Per Square Foot: $210
• Buyer: Kumar Family
• Seller: Esposito & DePaola Families
• Broker: John Brennan - Marcus & Millichap

The transaction features significant players, with the Kumar Family acting as the buyer. The sellers are the Esposito and DePaola Families, while the brokerage firm facilitating the deal is represented by John Brennan from Marcus & Millichap. Note that this transaction involved a fully rent-stabilized six-family building.