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A blog for breaking sales and neighborhood real estate news.

An elevatored multifamily building at 105 Avenue P, located on the northeast corner of Avenue P and West 11th Street in Brooklyn’s Bensonhurst neighborhood, was sold in an all cash transaction valued at $5,500,000.

The six-story property is approximately 45,000 square feet and sits on a 100’ x 100’ lot.  There are 41 rent stabilized apartments and one rent controlled apartment. Of the 42 units, there are 24 one bedroom units and 18 two-bedroom units. The property is ideally located near Kings Highway, Bay Parkway and the Belt Parkway. The sale price equates to approximately $122 per square foot.

“After a short marketing period, we received several offers from qualified buyers at or above the asking price. This is a reflection of the strong demand for this type of product,” said Massey Knakal First Vice President of Sales Jeffrey A. Shalom who exclusively handled this transaction with Director of Sales Stephen Preuss.

Click here for press release

Neighborhoods: Bensonhurst/ Agents: Jeffrey Shalom, Stephen Preuss