James Grasso Of Cohabs Acquires Multifamily Property From The Marafino Family For $3.35M

The property asset involved in this transaction is a multifamily building located at 723 Metropolitan Avenue in Williamsburg, Brooklyn. The sale price of the property was $3,350,000, with a total unit count of 5, leading to a price per unit of $670,000. The total square footage of the asset is 3,240, resulting in a price per square foot of $1,033.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,350,000
• Buyer: James Grasso - Cohabs
• Seller: The Marafino Family
• Brokers: Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura & Sal Monteverde - Investment Property Realty Group (IPRG)
• Units: 5
• Price Per Unit: $670,000
• Square Footage: 3,240
• Price Per Square Foot: $1,033

This transaction involved key representatives from the Investment Property Realty Group, comprising Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura, and Sal Monteverde. The property was delivered vacant and included approximately 6,048 square feet of unused air rights.