Baseline Real Estate Advisors Acquires Multifamily Property In Midwood, Brooklyn For $37.1M

Located at 1704 Ocean Ave. in Midwood, Brooklyn, this multifamily property has recently been sold. The transaction took place on 04/06/2022, with a sale price of $37,100,000. The property consists of 64 units, with a price per unit (PPU) of $579,687. It spans across 60,000 square feet, resulting in a price per square foot (PPSF) of $618.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $37,100,000
• Units: 64
• Price per Unit (PPU): $579,687
• Square Footage: 60,000
• Price per Square Foot (PPSF): $618
• Market: Midwood, Brooklyn

Bluejay Management, represented by Yerachmael Jacobson and Marc Jacobowitz, served as the seller in this transaction. The buyer was represented by Michael Sherman from Baseline Real Estate Advisors. Jacob Stavsky from SP Capital Group acted as the seller's representative.

Baseline Real Estate Advisors, the buyer's brokerage firm, provided an additional note stating that they currently have nine other properties under contract. They pride themselves on their individualized approach, maximizing asset value with a combination of big firm exposure and boutique firm service. If you wish to learn more, you can reach out to Michael Sherman, the founder of Baseline Real Estate Advisors, at [email protected].