Brighton Beach Apartment Building Sells For $10.5 Million

A six-story Brighton Beach apartment building sold for $10.5 million, according to a report by the New York Times. The building, located at 3111 Brighton 7th Street between Brighton Beach Avenue and Brightwater Court, was sold to 3111 Realty.

The Times described the features of the building, previously owned by Smj Associates II:

A local investor has bought this six-story 1928 elevator building with 72 apartments — 5 three-bedrooms, 6 two-bedrooms, 59 one-bedrooms and 2 studios. The 72,360-square-foot building sold for 12.75 times the rent roll.

Congratulations to whoever runs 3111 Realty. Anyone live at good ol’ Venice Hall? What’s the rent like and how is the building faring? Let us know.