Rosewood Realty Group has delivered the $2.452 million sale of a mixed-use building in Brooklyn’s Clinton Hill neighborhood.
The four story walk-up building at 408 Myrtle Avenue features three residential apartments and one commercial space. The 3,775 sq. ft. building was built in 1955. It sold for a cap rate of 7.12%, or $650 per sq. ft. The building also sold for 12.43 times the current rent roll at $613,000 price per unit.
Rosewood’s Aaron Jungreis, Ben Khakshoor Alex Fuchs and Eli Shayestehpour represented the buyer, Kalman Sinay, and Joshua Malekan and Jonathan Setareh of Venture Capital Properties represented the seller, Shlomo Khodara.
