Mohammed Hashem Acquires 8-unit Multifamily In Ditmas Park, Brooklyn For $1.55M

A uniquely constructed 40-foot wide brick 8-family building located at 608 Marlborough Rd. in Ditmas Park, Brooklyn, was sold for $1,550,000. The property is a multifamily asset consisting of 8 units with a total square footage of 5,264. The price per unit was $193,750, with a price per square foot of $294. The property was fully occupied and 100% rent-stabilized at the time of sale.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,550,000
• Units: 8
• Price Per Unit: $193,750
• Square Footage: 5,264
• Price Per Square Foot: $294
• Market: Ditmas Park, Brooklyn

The buyer of the property was Mohammed Hashem, while Tommy Laskaris and Walter Wallace were the sellers. The deal was brokered by John Brennan from Marcus & Millichap.

According to a note from @TheBrennanTeamOfMM, the property was sold at a 5.75% cap rate, and it was fully occupied at the time of the sale.