$229K-Per-Unit for Brooklyn’s Midwood Apartments

Investors paid $14.7 million for 837 E. 22nd St. and 754 E. 23rd St., two pre-war multifamily buildings located across from Brooklyn College in the Midwood section of Brooklyn.

The two buildings include a total of 64 apartments. That works out to a price of $229,000 per unit. Rents are significantly below market at the buildings, which are close to the busy Flatbush Ave. corridor.

“This deal presented the buyer with the rare opportunity to acquire a property from a long-term owner who had maintained the property very well. Occupying an entire corner block-front, the units have great layouts with terrific exposure to sunlight,” said Erik Yankelovich, senior director of GFI Realty, who represented the undisclosed local buyer.

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