177 Water Limited Partnership Acquires Brooklyn Heights Multifamily For $5.3M

The multifamily property located at 68 Middagh Street in Brooklyn Heights has been sold in a recent transaction for $5,300,000. The property boasts a building size of 9,160 square feet and a lot size of 2,031 square feet. The sale price translates to a price per square foot of $578. With a total of 6,987 buildable square feet, the property's price per buildable square foot is $758. The lot dimension measures 20.17 ft x 100.75 ft. The property is zoned as R7-1, allowing for multifamily development. Its floor area ratio (FAR) is 4.51, making it favorable for future development. Additionally, the property falls under tax class 2B.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,300,000
• Market: Brooklyn Heights
• Zoning: R7-1
• Building Size: 9,160 square feet
• Price per Square Foot: $578
• Buildable Square Feet: 6,987
• Price per Buildable Square Foot: $758
• Lot Size: 2,031 square feet
• Lot Dimension: 20.17 ft x 100.75 ft
• Tax Class: 2B

177 Water Limited Partnership successfully acquired the property from the seller, Jonathan H Holman. The transaction took place on October 14, 2021. No additional information about the individuals or companies involved in the deal was provided.