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2277 East 24th Street

Chenzhong Jiang & Jianyin Chen Acquire Multifamily Asset From John Vitale & John Vitale Jr For $1.67M
SOLDMultiFamily

Chenzhong Jiang & Jianyin Chen Acquire Multifamily Asset From John Vitale & John Vitale Jr For $1.67M

2277 East 24th Street

$1,670,000

$482/SF

Building Size

3,465 SF

Asset Type

MultiFamily

Closing

Dec 29, 2025

AI

The property asset involved in this transaction is a multifamily building located at 2277 East 24th Street in Brooklyn. The sale price of the property was $1,670,000, which includes 3 units. The total square footage of the building is 3,465, resulting in a price per unit of $556,666 and a price per square foot of $481.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,670,000
  • Units: 3
  • Square Footage: 3,465
  • Price Per Unit: $556,666
  • Price Per Square Foot: $481
  • Buyer: Chenzhong Jiang & Jianyin Chen
  • Seller: John Vitale & John Vitale Jr
  • Broker Representatives: Vito Angelo & Billy Apter - Re/Max
  • Date of Transaction: 12/30/2025

The key individuals involved in the deal include buyers Chenzhong Jiang and Jianyin Chen, along with sellers John Vitale and John Vitale Jr. The transaction was facilitated by brokers Vito Angelo and Billy Apter from Re/Max, who are noted as top-producing agents in the real estate market.

Players

Vito Angelo

Re/Max

Broker

$79M

vol

39 deals

Broker
Re/Max
Re/MaxBrokerage

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.50%

Cash-on-Cash

-2.71%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93