Garib Family Acquires Multifamily Property In East New York, Brooklyn For $2.28M

Located at 240 New Jersey Avenue in East New York, Brooklyn, this multifamily property was recently sold in a closed transaction. The property consists of 16 units with a total square footage of 11,712. The sale price for this asset was $2,280,000, resulting in a price per unit of $142,500 and a price per square foot of $194.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,280,000
• Units: 16
• Price per Unit: $142,500
• Square Footage: 11,712
• Price per Square Foot: $194
• Market: East New York, Brooklyn

The buyer of the property is the Garib Family, while the seller is Simon Marom. Zachary Fuchs from GFI Realty Services LLC represented both parties in the transaction.