Meridian Properties Acquires Kensington Multifamily For $6.55M

The multifamily property located at 682 Ocean Parkway in Kensington, Brooklyn, has been sold in a closed transaction. The sale took place on September 16, 2022, with the buyer being Meridian Properties, represented by Michael Niamonitakis, and the seller being Jacob Landau. The property consists of 41 units, with a price per unit of $159,756. It spans a total area of 40,800 square feet, with a price per square foot of $160.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,550,000
• Address: 682 Ocean Parkway
• Market: Kensington, Brooklyn
• Buyer: Meridian Properties - Michael Niamonitakis
• Seller: Jacob Landau
• Units: 41
• Price Per Unit (PPU): $159,756
• Total Square Footage (SF): 40,800
• Price Per Square Foot (PPSF): $160

This transaction showcases the involvement of key individuals and companies in the deal. Meridian Properties, led by Michael Niamonitakis, identified the opportunity and acted as the buyer, while Jacob Landau was the seller. Together, they successfully concluded the sale of this multifamily property in Kensington, Brooklyn.