Barberry Rose Mgmt Acquires Multifamily Property In East Flatbush, Brooklyn For $6.5M

A multifamily property located at 488 Rockaway Pkwy in East Flatbush, Brooklyn has been sold for $6.5 million. The building spans approximately 30,000 square feet, resulting in a price per square foot of $216. The transaction took place on March 18, 2019.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6.5M
• Address: 488 Rockaway Pkwy
• Market: East Flatbush, Brooklyn

The seller of the property was the Silverstein Family, while the buyer was Barberry Rose Management represented by Lewis Barbanel. The deal was facilitated by Jeffrey Znaty of Kassin Sabbagh Realty. Notably, the building was delivered with a 30% vacancy rate. The property had been under the same ownership for over 50 years.