Brooklyn, NY Klosed Properties completed its acquisition of 2742 West 15^th St. The property consists of 7,500 s/f across eight units, located in the Coney Island neighborhood. Klosed assumed the existing loan that was placed on the property a few years ago. The property offers a stable cash-flow asset, with room to upgrade and renovate units as they become vacant.

Adam Hajibai, vice president of Klosed said, “The current cash flow of this property, along with the future upside to raise rents and create further value on a majority of the units were the main driving points for us to complete this acquisition.”

This closing marks the firms second acquisition of 2020. The firm is also under hard contract to purchase four additional properties.

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• Brooklyn
• acquisition