Jay Brody Acquires Note Loan Asset From Richard Klass In Brooklyn For $1.3M

The transaction involved a Note / Loan asset located at 280 Linden Boulevard in the Brooklyn market. The sale price was $1,300,000 for a total of 8 units, with a price per unit of $162,500. The property encompasses a square footage of 6,916, resulting in a price per square foot of $187.

Summary of transaction details:

• Property Type: Note / Loan
• Transaction Amount: $1,300,000
• Buyer: Jay Brody
• Seller: Richard Klass
• Broker Representatives: Gregg Haft & Nathan Horne - Compass
• Units: 8
• Price Per Unit: $162,500
• Square Footage: 6,916
• Price Per Square Foot: $187

Gregg Haft continues his role in advising lenders, borrowers, and attorneys through complex real estate challenges such as foreclosures and bankruptcies. For this transaction, he facilitated a deed-in-lieu, coordinated with a developer, and worked with title to ensure a clean transfer, navigating unique issues such as managing the presence of fruit trees on the property.