Rizwan Mahmud Acquires Multifamily Property In Gowanus, Brooklyn For $4.3M

The multifamily property located at 356 President Street in Gowanus, Brooklyn has been sold for a price of $4,275,000. The property has a building square footage (BSF) of 3,520, with a price per BSF (PPBSF) of $1,214. The total square footage (SF) of the property is 4,541, and the price per SF (PPSF) is $941. The property is classified under tax class 1 and has a lot size of 1,760. The previous sale of the property took place on January 24, 2017 for a price of $3,800,000. The property has a permitted alteration dated April 24, 2009.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,275,000
• Market: Gowanus, Brooklyn
• Zoning: R6B
• Buyer: Rizwan Mahmud
• Seller: Evan Teich
• BSF: 3,520
• PPBSF: $1,214
• SF: 4,541
• PPSF: $941
• Tax Class: 1
• Lot Size: 1,760
• Last Sale Price: $3,800,000 (01/24/2017)
• Permits: Alteration 2 (04/24/2009)
• Lot Dimension: 22 ft x 80 ft

Rizwan Mahmud acted as the buyer in the transaction, while Evan Teich was the seller. The property has a floor area ratio (FAR) of 2.58. The deal was closed on October 28, 2022.