Florencia Pia Montecchiarini Acquires Multifamily Property In Prospect Heights For $8M

A multifamily property located at 703 Washington Avenue in Prospect Heights has been sold for $8,000,000. The property has a total building square footage (BSF) of 16,056 and a price per BSF (PPBSF) of $498. It is zoned as R6A and C2-4, with a residential FAR of 3. The lot size is 5,352 square feet, with dimensions of 155.5 ft x 68.83 ft. The property's tax class is 4 and the last recorded sale prior to this transaction was for $5,500,000 on September 30, 2016. A full demolition permit was issued on August 29, 2017.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $8,000,000
• Market: Prospect Heights
• Zoning: R6A, C2-4
• BSF: 16,056
• PPBSF: $498
• FAR: 3 (Residential)
• Tax Class: 4
• Lot Size: 5,352
• Last Sale Price: $5,500,000 (09/30/2016)
• Permits: Full demolition (08/29/2017)
• Lot Dimensions: 155.5 ft x 68.83 ft

The buyer in this transaction is Florencia Pia Montecchiarini, while the seller is Gustavo Masri.