Massey Knakal Sells Apartment Building In Flatbush
An apartment building at 365 East 21st Street, located between Beverly and Albemarle Roadsin 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.
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.