Adam Raczynski Acquires Multifamily Property On Park Place In Crown Heights, Brooklyn For $1.1M

740 Park Place, located in Crown Heights, Brooklyn, has recently been involved in a multifamily property transaction. The property consists of 8 units, spanning a total of 9,200 square feet. The sale price for this transaction was $1,100,000, resulting in a price per unit (PPU) of $137,500. Additionally, the price per square foot (PPSF) was calculated to be $120. It is worth noting that the property is fully rent stabilized.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,100,000
• Units: 8
• Price per Unit (PPU): $137,500
• Total Square Footage: 9,200
• Price per Square Foot (PPSF): $120

The buyer in this transaction was Adam Raczynski, while the seller was Myrtle Rogers. The deal was facilitated by brokers Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, and Samantha Katz from Investment Property Realty Group (IPRG).