WRA Properties

Real Estate Weekly, Jan 17, 2001

Frank T. Chiarello, president of WRA Properties, announced the sale of 65 Ocean Ave. in Brooklyn.

The property, located across from Prospect Park, is a six-story, self-service elevator apartment building, consisting of 41 apartments. The building has 100 feet of frontage on Ocean Ave. and is built 90 feet deep on a 110-foot deep lot. The property offers spacious layouts and was in excellent condition at the time of the sale, which was valued at approximately $1.6 million. The price reflected 5 1/4 times the rent multiple. The property was sold to a client of the firm.