Meilin Cheng Purchases Multifamily Asset From Gab Sab For $1.2 Million In Ridgewood

The multifamily property located at 18-56 Madison Street in Ridgewood was sold for $1,200,000. The asset encompasses a total area of 5,700 square feet, resulting in a price per square foot of approximately $210. This transaction represents a fully occupied building sold within a short timeframe.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,200,000
• Square Footage: 5,700
• Price per Square Foot: $210
• Buyer: Meilin Cheng
• Seller: Gab Sab
• Broker: Lina Shi - S10 Realty Group

The deal highlights the performance of S10 Realty Group, with Lina Shi representing the seller in the closing of this all-cash transaction, which took place within three weeks of listing. The property was sold as is, indicating the buyer's acceptance of its current condition.