A multifamily building at 851 Franklin Avenue in Crown Heights has sold for $3.25 million, or $385 per square foot.
The four-story, 16-unit building has 15 one-bedroom apartments and one two-bedroom. Nine of the units are free‐market. The average monthly rent in the building was $1,469, according to the TerraCRG listing.
The 8,400-square-foot property traded for $400,000 over the original asking price.
The building went on the market in March 2013.
“Crown Heights has experienced significant growth over the last decade,” TerraCRG’s Michael Hernandez said in a statement. “The sale price per square foot for 851 Franklin Ave is significantly higher than the average for 2013, which was $182 per square foot.”