Abraham Ali Acquires Multifamily Property In Bushwick For $1.5M

The multifamily property located at 354 Knickerbocker Ave in Bushwick was recently sold for a price of $1,467,000. The property is zoned as R6 for residential use and C1-3 for commercial use. It has a building square footage (BSF) of 6,075 with a price per BSF (PPBSF) of $241. The total square footage (SF) of the property is 5,250, with a price per SF (PPSF) of $279. The sale transaction took place on February 25, 2021, and the capitalization rate (CAP) for this investment is 5.8%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,467,000
• Address: 354 Knickerbocker Ave
• Market: Bushwick
• Asset Type: Multifamily
• Zoning: R6, C1-3

The buyer in this transaction was Abraham Ali, while the seller was Ethan Hassoun. The deal was facilitated by brokers Jonathan Codorniu and Said Boukhalfa.