Nick Kotsonis Acquires Multifamily Property In Brooklyn For $2.7M From Seller Joseph Marsella

The multifamily property located at 664 6th Avenue in Brooklyn, New York, has been sold in a closed transaction for a price of $2,700,000. The property spans across 5,400 square feet and has a price per square foot of $500. It consists of 8 units, with a price per unit of $337,500. The property has a capitalization rate of 3.83% and a gross rent multiplier of 17.65.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,700,000
• Address: 664 6th Avenue, Brooklyn, New York
• Market: Brooklyn
• Square Footage: 5,400 sf
• Price per Square Foot: $500
• Units: 8
• Price per Unit: $337,500
• Capitalization Rate: 3.83%
• Gross Rent Multiplier: 17.65

The seller of the property was Joseph Marsella, while the buyer was Nick Kotsonis. The transaction was facilitated by Marcus & Millichap, with John Brennan and Richard Sodeke serving as the representatives from the brokerage firm.