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Hager Management Pays $7.5M for Apt Complex in Brooklyn

Novel Property Ventures Sells 21-Unit Multifamily Property
November 21, 2017
Hager Management acquired a 21-unit multifamily property, located at 41 Jefferson Street in Brooklyn, NY from Novel Property Ventures for $7.5 million, or about $357,143 per unit.

The four-story asset delivered in 1931 and is located on the corner of Bushwick Avenue and Jefferson Street, close to both the area's largest office developments and the Rheingold Brewery development. Totaling 19,460 square feet, the apartment complex consists of 18 one-bedroom units and three ground-level retail units that were 100 percent occupied at the time of the sale.

Shaun Riney, Tom Shihadeh and Andrew Reiter of Marcus & Millichap represented the seller in the transaction.

Please see Costar COMPS #4052177 for more information on this transaction.
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