Schwartz Family Acquires MultiFamily Property In Flatbush, Brooklyn For $2.55M

The multi-family property located at 2 Oakland Place in Flatbush, Brooklyn was recently sold in a transaction. The property spans 26,270 square feet and is classified as a multi-family asset in the market. The sale price for this transaction was $2,550,000, with a price per unit (PPU) of $77,273. The price per square foot (PPSF) was $97.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $2,550,000
• Units: 33
• PPU: $77,273
• Square Footage: 26,270
• PPSF: $97

The buyer in this transaction was the Schwartz Family, while the seller was Goodman Capital. The deal was facilitated by Marcus & Millichap, with Shaun Riney, Daniel Greenblatt, and Zalman Yarmush representing both the buyer and the seller in this transaction. It is worth noting that this was a lender-owned sale. Additionally, during the Authorization to Execute Purchase (AEP) period, more than 50% of the tenants were not paying rent.