Brooklyn Hotel Purchased by Charity for $2.2M

St Mary’s Children and Family Services acquired the hospitality building at 261-263 Ninth St. in Brooklyn from Catholic Charities for $2.2 million, or approximately $215 per square foot, in a tenant purchase.

The 10,200-square-foot single-room occupancy hotel was built in 1925 in the North Brooklyn submarket. The building is used by St. Mary's Children and Family Services to house teen mothers and their babies in one-room residences.

There were no brokers involved in this transaction.

Please refer to CoStar COMPS #1712195 for more information.