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Posted: April 17, 2018
Fridman of Barcel Group acts for Shamco Management, buyer, and Silvershore Properties, seller, in $20.1 million sale of 283 Albany in Brooklyn
Barcel Group
Brooklyn, NY According to Barcel Group, Marcel Fridman, president, represented the seller, Silvershore Properties, and Shamco Management, the buyer, in the sale of 283 Albany.
The property, built in 1941, consists of 53 units and a cell tower. The elevator apartment building sold for $20.1 million. The transaction price reflects a gross rent multiple of 15X GRM or $379,000 per unit. This is one of the highest prices per unit ever achieved for a comparable property in this section of Crown Heights.
The building, located just off Eastern Parkway, is in a large residential neighborhood which features the Brooklyn Children’s Museum, Brooklyn Museum, Prospect Park Zoo, as well as many diverse restaurants, bars, and shops.
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