Sam Obeid Acquires Mixed-Use Property In Bay Ridge, Brooklyn For $5.5M

The mixed-use property located at 484 67th Street in Bay Ridge, Brooklyn has been sold in a recent transaction. The property consists of 21 apartments and 3 stores, offering a total of 16,748 square feet of space. The sale price for this transaction was $5,485,000, resulting in a price per square foot of $327.50. The seller of the property was Raymond Orfaly, and the buyer was Sam Obeid.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $5,485,000
• Address: 484 67th Street, Bay Ridge, Brooklyn
• Market: Bay Ridge, Brooklyn
• Size: 16,748 square feet

The transaction was facilitated by the brokers, John Brennan from The Brennan Team of MM at Marcus & Millichap NY, and Wade Jabour from Jabour Realty. The property was originally listed with an asking price of $6,000,000, indicating a discounted sale price of $5,485,000. The transaction also included 3 vacant apartments, presenting potential for future rental income. With a projected capitalization rate of 5%, this sale offered attractive investment prospects.