A two-unit multifamily building located at 609 Ocean Parkway in Kensington, Brooklyn was sold for $4,400,000. The building encompasses a total square footage of 3,888, with a price per square foot of $1,132. The property also features a total building size of 28,560, resulting in a price per building size foot of $154, and the price per unit stands at $2,200,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,400,000
• Buyer: Raymond Guindi
• Seller: Benjamin Margulies, Abraham Margulies & Israel Margulies - Margulies Family
• Units: 2
• Building Size (BSF): 28,560
• Square Footage (SF): 3,888
• Price Per Unit (PPU): $2,200,000
• Price Per Building Size Foot (PPBSF): $154
• Price Per Square Foot (PPSF): $1,132

Raymond Guindi, associated with Chai Avenue Development, LLC, is set to undertake ground-up development on this property following the acquisition. The sellers in this transaction are the Margulies family, consisting of Benjamin Margulies, Abraham Margulies, and Israel Margulies.