Shalom Malul Acquires Apartment Building In Brownsville, Brooklyn For $3.1M

The property at 1719 Pitkin Avenue in Brownsville, Brooklyn has been sold in a transaction that closed on April 29, 2022. The asset is an apartment building with a total square footage of 11,250. The buyer, Shalom Malul, purchased the property from Henry GrunBaum for a price of $3,100,000. The building has a buildable square footage (BSF) of 8,500, resulting in a price per buildable square footage (PPBSF) of $364. The price per square footage (PPSF) for the entire property is $276. The lot size is 2,500 square feet and the property is zoned as C4-3.

Summary of transaction details:

• Property Type: Apartment
• Transaction Amount: $3,100,000
• Square Footage: 11,250
• Address: 1719 Pitkin Avenue, Brownsville, Brooklyn
• Market: Brownsville, Brooklyn
• Zoning: C4-3

This transaction represents the sale of the property from Henry GrunBaum to Shalom Malul. The apartment building has a floor area ratio (FAR) of 4.50 and falls under tax class 2. The previous sale of the property took place on January 27, 2014, for a price of $1,337,500. An alteration permit was issued on November 16, 2018. The lot dimensions are 25 feet by 100 feet.