Okada Denki Sangyo Co Acquires Greenpoint Multifamily From Parag Sawhney For $4.65M

A Japan-based company, Okada Denki Sangyo Co., Ltd., acquired a three-unit multi-family building located at 133 Java Street in Greenpoint, Brooklyn. The property spans a total of 3,048 square feet and was sold for $4,650,000, reflecting a price of approximately $1,526 per square foot. The transaction also included a consideration for the property's air rights, with a buildable square foot cost of $930.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $4,650,000
• Address: 133 Java Street
• Market: Greenpoint, Brooklyn
• Square Footage: 3,048
• Price per Square Foot: $1,526
• Buildable Square Foot Price: $930
• Buyer: Okada Denki Sangyo Co
• Seller: Parag Sawhney - Penn South Capital

Parag Sawhney represented Penn South Capital in this transaction, facilitating the sale of the multi-family asset. The involvement of Okada Denki Sangyo Co. marks their entry into the Brooklyn real estate market through this purchase.