KlosedProperties Acquires Multifamily Property In Ridgewood, Queens For $950K

The multifamily property located at 2034 Palmetto Street in Ridgewood, Queens consists of 5,600 square feet and includes a total of 6 units, comprised of 3 residential units and 3 vacant units. The asking price for this property was $1,399,000, while the sale price concluded at $950,000, resulting in a price per square foot of $169 and a price per unit of $158,333.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $950,000
• Asking Price: $1,399,000
• Square Footage: 5,600
• Price per Square Foot: $169
• Units: 3 Residential Units, 3 Vacant Units
• Price per Unit: $158,333
• Buyer: Steven Kachanian, Jacob Namdar, and Adam Hajibai from KlosedProperties
• Seller: Floarea Sfera
• Date of Transaction: 08/31/2020

The deal was facilitated by Adam Hajibai, Jacob Namdar, and Steven Kachanian, who represented the buyer as agents from KlosedProperties in this transaction. The seller, Floarea Sfera, was involved in the sale of the property.