Multifamily Elevator Building Sold in Sheepshead Bay Brooklyn for $31,500,000

Successful Sale of 2825 Ocean Avenue in Sheepshead Bay, Brooklyn

Bob Knakal and his team successfully completed the sale of 2825 Ocean Avenue, a multifamily elevator building in the vibrant Sheepshead Bay neighborhood of Brooklyn. The property sold for $31,500,000, marking a significant achievement in the borough’s competitive real estate market.

The sale of this 200-unit building highlights Bob’s expertise in navigating complex multifamily transactions and delivering optimal results for his clients. The team’s diligent efforts ensured that the property was marketed strategically, attracting strong interest and achieving a competitive price.

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Sale Details

This 159,996-square-foot property was sold for $31.5 million, achieving a price per square foot of $196.88. The property’s multifamily designation and elevator configuration made it a highly sought-after asset in Sheepshead Bay. Bob Knakal’s meticulous marketing strategy played a pivotal role in maximizing the property’s value.

Sale Price: $31,500,000
Property Type: Multifamily - Elevator
Units: 200
Square Footage/Buildable Square Footage: 159,996
Price per Square Foot: $196.88
Closing Date: March 31, 2014

The opening offer on this property highlighted its strong potential as a long-term investment in a thriving Brooklyn neighborhood. Through Bob’s efforts, the final terms reflected the property’s true market value.

Property Overview

2825 Ocean Avenue stands as a notable multifamily property within Sheepshead Bay, offering a blend of residential comfort and investment opportunity. Its prime location and elevator amenities appealed to a broad range of potential buyers, ultimately driving competition and securing the best possible outcome.

Full Address: 2825 Ocean Avenue, Brooklyn, NY 11235
Property Type: Multifamily - Elevator
Neighborhood: Sheepshead Bay

Neighborhood Overview

Sheepshead Bay, Brooklyn, is a dynamic neighborhood known for its unique blend of residential and commercial appeal. Key features of the area include:

Proximity to waterfront attractions like Sheepshead Bay Marina and Emmons Avenue’s dining options.
Strong transportation access, including subway lines and bus routes connecting to Manhattan and other parts of Brooklyn.
A thriving residential community with a mix of multifamily and single-family homes, making it a prime location for property investment.

Conclusion

The sale of 2825 Ocean Avenue demonstrates Bob Knakal’s ability to deliver exceptional results in Brooklyn’s multifamily market. Through strategic marketing, diligent negotiation, and a deep understanding of neighborhood dynamics, Bob and his team ensured a successful transaction that maximized the property’s value.

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