Rahul Mehta Acquires Bushwick Multifamily For $1.4M With Brokers DJ Johnston, Thomas Donovan & Eugene Kim

The property at 367 & 371 Palmetto Street in Bushwick has been sold in a recent transaction. This multifamily asset consists of two 6-family walk-up buildings, totaling 12 units with a combined square footage of 7,875. The sale price for this property was $1,400,000, resulting in a price per square foot of $178.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,400,000
• Address: 367 & 371 Palmetto Street, Bushwick
• Market: Bushwick
• Buyer: Rahul Mehta
• Seller: Andrew Boisselle
• Brokers: DJ Johnston, Thomas Donovan & Eugene Kim - B6 Real Estate Advisors
• Units: 12
• Price Per Unit: $116,667
• Square Footage: 7,875
• Price Per Square Foot: $178

The transaction was successfully completed with the assistance of brokers DJ Johnston, Thomas Donovan, and Eugene Kim from B6 Real Estate Advisors. The offering included ten occupied rent-stabilized units and two vacant units that had been unoccupied for the past ten years. The sales price of $1,400,000 implied a cap rate of 6.58%. For more information on similar transactions or to connect with the team, you can reach out to DJ Johnston at [email protected] or call/text 914-584-7422.