The Reel

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A blog for breaking sales and neighborhood real estate news.

An apartment building at 365 East 21st Street, located between Beverly and Albemarle Roads in Brooklyn’s Flatbush neighborhood, was sold in an all-cash transaction valued at $650,000.

The four-story walk-up building contains approximately 6,720 square feet and sits on a 20’ x 120’ lot.  It consists of eight rent stabilized units, and the sale price equates to approximately $97 per square foot.

“The seller was pleased with this all-cash transaction at a 6.35% cap rate,” said Massey Knakal’s Nick Mahedy, who exclusively handled this transaction with Guthrie Garvin.

Click here for press release

Neighborhoods: Flatlands