Ari Sperlin Acquires Crown Heights Multifamily On New York Avenue For $1.76M
324 New York Avenue
8,600 SF
Summary
The multifamily property located at 324 New York Avenue in Crown Heights, Brooklyn was sold in a transaction on December 29, 2020. The property consists of 8 units with a total square footage of 8,600. The sale price for this transaction was $1,760,000, resulting in a price per unit of $220,000 and a price per square foot of $204. The property has a current capitalization rate of 3.68%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,760,000
- Address: 324 New York Avenue, Crown Heights, Brooklyn
- Units: 8
- Square Footage: 8,600
- Price per Unit: $220,000
- Price per Square Foot: $204
- Capitalization Rate: 3.68%
The buyer in this transaction was Ari Sperlin, while the seller was Chris Paras. The deal was facilitated by brokers Matthew Peters and Daniel Reyhan from Marcus & Millichap. The Peters Team, known for their expertise in Central and Eastern Brooklyn, specializes in various property types in the area. The team currently has 21 exclusive listings ranging from $800,000 to $10,000,000. The property was sold to an end-user who plans to utilize one of the vacant units in the building. The buyer also stands to benefit from potential rental increases in the future when a tenant vacates, as the current rents charged were below the legal limit. For more information on investment opportunities or market trends, contact the Peters Team at Marcus & Millichap:
Email: [email protected]
Phone: 718-475-4391
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