Mihe Kim Acquires Multi-Family Property In Crown Heights, Brooklyn For $5.35M

Located at 871 Park Place in Crown Heights, Brooklyn, this multi-family property was recently sold in a closed transaction. With a total of 6,880 square feet, the property features 8 units, offering ample space for residents. The transaction took place at a price of $5,350,000, resulting in a price per square foot of $778. The sale also included a price per unit of $662,500 and a capitalization rate of 5.0%.

Summary of transaction details

• Property Type: Multi-Family
• Transaction Amount: $5,350,000
• Square Footage: 6,880 sf
• Price per Square Foot: $778
• Number of Units: 8
• Price per Unit: $662,500
• Capitalization Rate: 5.0%

The seller of the property, Red Brick Properties, was represented by David Slaven. Mihe Kim was the buyer in this transaction. The brokerage firm involved in the deal was BRG, represented by Toby Waring, Derek Bestreich, and Luke Sproviero.