Lloyd Properties & Kadima Properties Acquire Multifamily Portfolio In Boerum Hill For $14.15M

The transaction involved a multifamily property portfolio consisting of six addresses: 538 Pacific Street, 555 Pacific Street, 540 Pacific Street, 542 Pacific Street, 557 Pacific Street, and 255 Dean Street, located in the Boerum Hill market. The total sale price was $14,150,000, with a square footage of 21,960, resulting in a price per square foot of $644.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $14,150,000
• Square Footage: 21,960
• Price per Square Foot: $644
• Address: 538 Pacific Street, 555 Pacific Street, 540 Pacific Street, 542 Pacific Street, 557 Pacific Street & 255 Dean Street
• Market: Boerum Hill
• Buyer: Lloyd Properties & Kadima Properties
• Seller: Lennard-Smith Family
• Brokers: Robbie Ferman, Daniel O'Brien & Caroline Hodes - Newmark

Newmark received multiple bids for the individual assets within the portfolio that exceeded $15,000,000. The seller chose to proceed with Lloyd Properties & Kadima Properties due to their capability to facilitate a complicated transaction efficiently.