PSA Properties Acquires Multifamily Property In Ridgewood For $1.3M

Located in Ridgewood, the multifamily property at 18-71 Gates Avenue recently changed hands in a sale transaction. The deal was finalized on October 21, 2022, with a sale price of $1,300,000. This transaction involved the sale of a property consisting of four units, with a price per unit of $325,000. The total square footage of the property is approximately 3,000, resulting in a price per square foot of $433.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $1,300,000
• Units: 4
• Price Per Unit: $325,000
• Square Footage: 3,000
• Price Per Square Foot: $433
• Market: Ridgewood

The buyer in this transaction was PSA Properties, represented by Joe Aghelian. Altaf Ahmed served as the seller. Facilitating the deal were the brokers Kevin Darouvar, Mark Abdelmessih, and Uriel Setareh, all from Dusk Group.

It is worth noting that 18-71 Gates Avenue is one of the eight distressed properties in Ridgewood to be delivered completely vacant. For more vacant deals, interested parties can contact Dusk.RE by visiting their Instagram profile and following the link provided.