Massey Knakal Sells 51-Unit Apartment Building In Park Slope
A newly constructed apartment building at 202 8th Street, located between Third and Fourth Avenues in Brooklyn’s Park Slope neighborhood, was sold in an all-cash transaction valued at $37,750,000.
The 12-story building contains approximately 41,271 square feet and sits on a 75’ x 100’ irregular lot. It consists of two studios, 32 one-bedroom, 15 two-bedroom, and two three-bedroom units. The apartments feature solid oak custom-stained floors, heating/air conditioning units in every room, intercom system, washer and dryer in each unit, stainless steel appliances, built-in closets, and marble bathroom floors. Building amenities include a private landscaped park with seating and lighting, landscaped terrace with outdoor fireplace and seating, and a furnished common roof with outdoor grill and dining area with views of the Manhattan skyline, Statue of Liberty, and Brooklyn Harbor. Additionally, the building has a private gym for residents, storage spaces, key fob access, and a part-time doorman. Residents also benefit from easy access to the area’s restaurants, parks, and boutiques. The sale price equates to $915 per square foot.
“A transaction like this is only the tip of the iceberg for the Brooklyn multifamily market which will continue to see sales prices escalate to record levels,” said Massey Knakal Chairman Bob Knakal, who exclusively handled this transaction.
Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.