Mike Niamonitakis Acquires Bay Ridge Multifamily For $7.25M

A multifamily property located at 353 Bay Ridge Parkway in Bay Ridge, Brooklyn has been sold for $7,250,000. The property consists of 43 units, offering an average price per unit of $168,604. Spanning across 30,000 square feet, the property has an average price per square foot of $241. The transaction took place on September 28, 2021.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,250,000
• Units: 43
• Price per Unit: $168,604
• Square Footage: 30,000
• Price per Square Foot: $241
• Market: Bay Ridge, Brooklyn

The buyer of the property is Mike Niamonitakis, while Lawrence DiGiovanna and Joanne Belcaro acted as the sellers. The deal was facilitated by Nick Pappas and Aaron Jungreis of Rosewood Realty Group who represented the parties involved in the transaction.