Iannelli Family Sells Multifamily Property In Bay Ridge, Brooklyn For $3.775M

Located in Bay Ridge, Brooklyn, the multifamily property at 8124 Ridge Boulevard has been sold. The transaction took place on February 23, 2022, with a sale price of $3,775,000. The property consists of 21 units, with a price per unit (PPU) of $179,761. Spanning 23,900 square feet, the property has a price per square foot (PPSF) of $157.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,775,000
• Units: 21
• PPU: $179,761
• SF: 23,900
• PPSF: $157

The property was sold by the Iannelli Family. The deal was facilitated by John Brennan and Matt Dittmeier from Marcus & Millichap, who acted as the brokers representing the seller in this transaction.