8/13/2008

Massey Knakal sells Brooklyn apartment building

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145 North 7th Street

Massey Knakal Realty Services sold a 10-unit apartment building in the Williamsburg section of Brooklyn for $1.75 million. The transaction occurred at a capitalization rate of 3.17 percent and a gross rent multiple of 20.26.

At 145 N. 7th St., the four-story property is on the north side of North 7th Street between Berry Street and Bedford Avenue. Nine rent stabilized units and one vacant unit are spaced over 6,500 square feet. Individual apartments are between 350 to 700 square feet.

Massey Knakal's Mark Lively exclusively represented the seller, who had owned the property for 40 years.

Address: 145 N. 7th Street, Brooklyn, N.Y.

Size: 6,500 square feet

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Filed Under: Multi-Family

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