Massey Knakal negotiates $2.2 million apartment building sale

A multifamily apartment building at 40 Cumberland St., located between Flushing and Park Aves. in the Fort Greene neighborhood, was sold in an all-cash transaction valued at $2.2 million. The four-story, walk-up building is 8,268 s/f and sits on a 25' x 100' lot. The building comprises 12 units. Nine of the units contain two-bedroom units and two units contain one-bedroom units. There is one three-bedroom unit on the ground floor which has rear yard access. Over the past 12 months, 10 of the 12 units have been fully renovated. "The newly renovated walk-up was purchased by an investor with a 1031 exchange. It's a great property in a growing neighborhood," said Massey Knakal director of sales Stephen Palmese, who exclusively handled this transaction with director of sales Mike Amirkhanian.