Erez Hayun Acquires Multifamily Property In Bedford-Stuyvesant, Brooklyn For $5M

A multifamily property located at 118 Nostrand Avenue in the Bedford-Stuyvesant neighborhood of Brooklyn has been sold for $5,000,000. The property has a building square footage (BSF) of 12,500, resulting in a price per BSF (PPBSF) of $400. The total lot size is 12,500 square feet with dimensions of 125 ft x 100 ft. The property is zoned M1-1, allowing for various uses.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $5,000,000
• Market: Bedford-Stuyvesant, Brooklyn
• Zoning: M1-1
• Building Square Footage (BSF): 12,500
• Price per BSF (PPBSF): $400
• Total Lot Size: 12,500 sqft
• Lot Dimensions: 125 ft x 100 ft

Erez Hayun has purchased the property from Isaac Dahan. The sale price translates to a price per square foot (PPSF) of $182, based on the total square footage (SF) of 27,375. The property has a floor area ratio (FAR) of 2.19. The tax class of the property is 4. Permits for alteration type 3 were issued on November 16, 2007.