Meridian Properties Acquires 36-Unit Multifamily Building In Prospect Lefferts Gardens

Meridian Properties' Epsilon Maple 1G LLC has purchased a 36-unit residential elevator building located at 288 Maple Street in the Prospect Lefferts Gardens neighborhood of Brooklyn. The property covers a total of 30,960 square feet and was acquired for a sale price of $4.3 million. With an average price per unit of $119,444, the building offers affordable housing options for residents.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,300,000
• Address: 288 Maple Street
• Market: Prospect Lefferts Gardens, Brooklyn
• Buyer: Meridian Properties - Michael Niamonitakis
• Seller: Barberry Rose Management Company - Lewis M. Barbanel
• Units: 36
• Price per unit: $119,444
• Square footage: 30,960
• Price per square foot: $139

This transaction was facilitated by Michael Niamonitakis from Meridian Properties and Lewis M. Barbanel from Barberry Rose Management Company. Both parties played crucial roles in reaching an agreement that benefitted both the buyer and the seller. The acquisition of this 36-unit residential building marks a strategic investment move by Meridian Properties, further strengthening their portfolio in the Prospect Lefferts Gardens market.