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
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