Safina, Ryan and Chystyakova of CPEX broker $1.37 million sale of six-family walk-up

Brooklyn, NY The CPEX Multi-Family sales team has sold a rent-stabilized six-family walk-up building at 247 60th St. in Sunset Park for $1.37 million. 

The sale price amounts to $293 per s/f or a 3.74% capitalization rate, which is 1.25 percentage points lower than the average cap rate for similar six-family sales in the area.  

“We received much interest and entertained multiple offers during our marketing of 247 60th St.,” said Stephen Safina, managing director of CPEX. “Our ability to transact at this low cap rate speaks to the demand for multifamily properties between the 2nd and 3rd Ave. corridors along the waterfront of Sunset Park.”

Safina and associate directors Thomas Ryan and Alyona Chystyakova represented the seller and procured the buyer.

CPEX Real Estate provides a full range of transactional services for both real estate and business owners, including sales, leasing, acquisitions, and advisory. CPEX takes a team-based approach in which each of our skilled teams specializes in one particular property type covering a specific market in the greater New York metropolitan area. Since being founded in 2008 by Brian Leary and Timothy King, CPEX has completed over 550 assignments totaling more than nine million s/f and $2.5 billion in aggregate value.