NEW YORK—A private investor has purchased 1402-1408 Putnam Avenue, an asset comprised of four, six-unit apartment buildings, in Brooklyn for $2.505 million. The price represents approximately $133.33 per sq. ft.
Erik Lundberg, an investment specialist in Marcus & Millichap’s Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer was secured and represented by Lundberg and Shaun Riney, also an investment specialist in Marcus & Millichap’s Brooklyn office.
“The sale of 1402-1408 Putnam Avenue is one of the largest multifamily transactions in the recent past for the Bushwick area,” said Lundberg.