Okalo Daniel Ikhena Acquires Multifamily Property In Bedford-Stuyvesant, Brooklyn For $3.2M

A multifamily property located at 387 Madison Street in Bedford-Stuyvesant, Brooklyn has been sold in a closed transaction. The property is zoned as R6B and has a lot size of 2,000 square feet. The last sale price recorded for this property was $1,250,000 on April 9, 2021. It received an alteration permit on February 11, 2021. The dimensions of the lot are 20 feet by 100 feet.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,199,000
• Market: Bedford-Stuyvesant, Brooklyn
• Buyer: Okalo Daniel Ikhena
• Seller: Christopher Capoccia
• Building Square Footage: 4,000
• Price per Buildable Square Foot: $799
• Total Square Footage: 4,160
• Price per Square Foot: $768
• Floor Area Ratio (FAR): 2.08
• Tax Class: 1

In this transaction, Okalo Daniel Ikhena acquired the property from Christopher Capoccia for a total price of $3,199,000. The property has a building square footage of 4,000 and a price of $799 per buildable square foot. The total square footage of the property is 4,160, and the price per square foot is $768. The property has a floor area ratio (FAR) of 2.08, indicating its capacity for future development. The tax class assigned to this property is 1.