AD Prospect Holdings LLC Acquires Multifamily Asset At 722 President Street In Brooklyn For $3.4M

The property asset involved in this transaction is a multifamily building located at 722 President Street, Brooklyn. The sale price was $3,400,000 for a total of 4,200 square feet, which results in a price per square foot of $809. The building consists of 3 units, leading to a price per unit of $1,133,333.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,400,000
• Address: 722 President Street
• Market: Brooklyn
• Units: 3
• Square Footage: 4,200
• Price Per Square Foot: $809
• Price Per Unit: $1,133,333

The buyer of the property is AD Prospect Holdings LLC, while the seller is the Porretto Family. The transaction was facilitated by the brokerage team of John Brennan and Bryan Ellis from Marcus & Millichap, representing the involved parties in this deal.