Avanath Capital Acquires Multifamily Property In Downtown Brooklyn For $105M

The property involved in this closed transaction is a multifamily asset located at 7 DeKalb Ave in Downtown Brooklyn. The property spans a total of 178,346 square feet and consists of 251 units. The sale price for this transaction was $105,000,000, resulting in a price per unit of $418,327 and a price per square foot of $589.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $105,000,000
• Address: 7 DeKalb Ave
• Market: Downtown Brooklyn
• Buyer: Avanath Capital - Daryl J. Carter
• Seller: The Brodsky Organization - Daniel Brodsky & Dean Amro
• Brokers: Brett Siegel & Evan Layne - Newmark
• Units: 251
• Price per Unit: $418,327
• Square Footage: 178,346
• Price per Square Foot: $589

The buyer in this transaction is Avanath Capital, represented by Daryl J. Carter. The seller is The Brodsky Organization, with Daniel Brodsky and Dean Amro involved in the deal. The brokers who facilitated the transaction were Brett Siegel and Evan Layne from Newmark.