Ashraf Palwala Of Five Boro Property Management Acquires Multifamily In Flatbush For $3.6M

The multifamily property located at 2011 Newkirk Avenue in Flatbush, Brooklyn, was sold for $3.6 million on May 16, 2024. The property consists of a total of 34,300 square feet of built space, offering 35 residential units. Additionally, the property includes 13,678 square feet of extra air rights.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,600,000
• Buyer: Ashraf Palwala - Five Boro Property Management
• Seller: Jacob Hager
• Address: 2011 Newkirk Avenue
• Market: Flatbush, Brooklyn
• Building Square Footage: 34,300
• Price per Square Foot: $105

Ashraf Palwala of Five Boro Property Management acquired the residential building at 2011 Newkirk Avenue from Jacob Hager. The transaction, involving a total of 35 units, demonstrates Palwala's strategic investment in the Flatbush real estate market, further expanding Five Boro Property Management's portfolio in Brooklyn.