A mixed-use building at 195 Smith Street, located between Warren and Baltic Streets in Carroll Gardens, Brooklyn, was sold in an all cash transaction valued at $1,640,000.
The three-story property is approximately 3,532 square feet and 25 feet wide. There is one vacant retail unit on the ground floor and two two-bedroom apartments above. The sale price equates to approximately $464 per square foot.
“The sale of 195 Smith Street demonstrates the returning strength of the Brooklyn investment property market. The building required significant structural and cosmetic renovation but because of its ideal location on Smith Street’s restaurant row and the surge in Brooklyn residential rents, Massey Knakal received numerous bids and was able to secure an all-cash, thirty day closing on behalf of the seller,” said Massey Knakal Senior Vice President of Sales Kenneth Freeman who exclusively handled this transaction.
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Neighborhoods: Carroll Gardens