Hager Management Acquires MultiFamily Property In Brooklyn For $3.2M

Located at 7 Ridgewood Place in Brooklyn, this multi-family property was recently sold in a closed transaction. The property consists of 8 units, with each unit priced at approximately $500,000. The total transaction amount for the sale was $3,200,000, resulting in a capitalization rate of 5.75%. The price per square foot for the property is approximately $533.

Summary of Transaction Details

• Property Type: MultiFamily
• Transaction Amount: $3,200,000
• Capitalization Rate: 5.75%
• Price Per Square Foot: $533
• Number of Units: 8
• Price Per Unit: $500,000

The buyer of the property is Hager Management, while the seller is Stuy Group represented by Adam Cohen from @thestuyvesantgroup. The transaction was facilitated by the broker, Barcel Group, with Marcel Fridman serving as the representative.