Michael Wahba Acquires Industrial Property In Sunset Park, Brooklyn From Aryeh Birnhack For $4.1M

A transaction has taken place in Sunset Park, Brooklyn, involving an industrial property located at 241 48th Street. The property, with a lot size of 7,712 square feet, is zoned as M1-2D. The sale of this property occurred on November 24, 2021, with Michael Wahba as the buyer and Aryeh Birnhack as the seller. The transaction price for this property was $4,100,000.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $4,100,000
• Market: Sunset Park, Brooklyn
• Address: 241 48th Street
• Lot Size: 7,712 square feet
• Zoning: M1-2D
• Buyer: Michael Wahba
• Seller: Aryeh Birnhack

The property at 241 48th Street in Sunset Park, Brooklyn was last sold on April 3, 2008, for a price of $2,185,000. The lot dimension of the property is 77 feet by 100.17 feet. The building on the property has a total square footage of 15,424 and a price per square foot of $266. The property itself has a square footage of 7,712 with a price per square foot of $532. The floor area ratio (FAR) for the property is 1.00 and it falls under tax class 4.