Wayne Wu Acquires Multifamily Property In Crown Heights For $6.7M

Located in the vibrant neighborhood of Crown Heights, the recently closed property transaction at 787 Franklin Avenue involved a multifamily building. The property, which underwent a complete renovation, consists of 8 residential units and 1 commercial unit. Spanning across 7,975 square feet, the building was sold at a price of $843 per square foot, resulting in a sale price of $6,725,000. With a cap rate of 5.39%, the transaction showcases the demand and potential in the Crown Heights market.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $6,725,000
• Units: 9
• Price per Unit: $747,222
• Square Footage: 7,975
• Price per Square Foot: $843
• Market: Crown Heights

Wayne Wu took the opportunity to acquire this valuable property, while Eric Mann served as the seller. Facilitating this successful transaction was DJ Johnston, a representative from B6 Real Estate Advisors. With their expertise, they ensured a smooth deal for both the buyer and the seller. For inquiries about similar buildings or further trade details, DJ Johnston can be contacted at [email protected] or 914-584-7422. This transaction highlights the potential for success in the Crown Heights market and serves as a testament to the expertise of the involved parties.