Meridian Properties Acquires Multifamily Property In Prospect-Lefferts Garden, Brooklyn For $6.1M

The multifamily property located at 242-244 Hawthorne Street in Prospect-Lefferts Garden, Brooklyn, has been sold in a closed transaction. The property consists of 14 units and spans a total of 12,792 square feet. The transaction took place on October 30, 2019.

Summary of transaction details

• Property Type: Multifamily
• Asking Price: $6,500,000
• Sale Price: $6,100,000
• Price per Square Foot: $476
• Number of Units: 14
• Price per Unit: $435,714
• Seller: Deutsch Equity – Mendel Deutsch
• Buyer: Meridian Properties – Michael Niamonitakis
• Brokers: Bestreich Realty Group (BRG) - Derek Bestreich, Steve Reynolds, and Tom Reynolds

The seller of the property was Deutsch Equity, represented by Mendel Deutsch. The buyer, Meridian Properties, was represented by Michael Niamonitakis. The deal was facilitated by the brokers from Bestreich Realty Group (BRG) - Derek Bestreich, Steve Reynolds, and Tom Reynolds.