Joey Araman Acquires Commercial Property For $5M In Ditmas Park, Brooklyn

The commercial property located at 1305 Newkirk Avenue in Ditmas Park, Brooklyn has been sold for a transaction amount of $5,000,000. The property is zoned as R7A and has a lot size of 5,900 square feet. It features a building square footage of 10,915 with a price per square foot of $458. The buyer of the property is Joey Araman and the seller is Marvin Beinhorn.

Summary of transaction details

• Property Type: Commercial
• Transaction Amount: $5,000,000
• Market: Ditmas Park, Brooklyn
• Zoning: R7A
• SF: 10,915
• PPSF: $458

Joey Araman, represented by their broker, was the buyer of the property. The transaction involved an alteration permit issued on March 10, 2022. The lot dimension of the property is 81.33 feet by 109.42 feet. The property has a floor area ratio (FAR) of 1.85 and falls under tax class 2B.