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A blog for breaking sales and neighborhood real estate news.

A multifamily building at 566 Morgan Avenue, located on the east side of Morgan Avenue between Driggs and Nassau Avenue in Brooklyn’s Greenpoint neighborhood, was sold in an all cash transaction valued at $900,000.

The four-story building is approximately 5,700 square feet and sits on a 25’ x 85’ lot.  Five of the eight units were delivered vacant. The building features a new boiler and hot water heater. The sale price equates to $158 per square foot.

“566 Morgan Avenue is a nice masonry building with lots of upside. While the building was in need of quite a few repairs, the buyer owns many additional properties in the area and will be able to efficiently manage the renovated building,” said Massey Knakal First Vice President of Sales Mark Lively who exclusively handled this transaction with Director of Sales Brendan Maddigan.

Click here for press release

Neighborhoods: Greenpoint/ Agents: Mark Lively