Bhuyain Family Acquires Multifamily Property From Estate Of Errol Smith For $1,500,000 In Brooklyn

The property asset involved in this transaction is a multifamily building located at 788 Linden Boulevard in Brooklyn. The sale price of the asset was $1,500,000, comprising 23 units, with a price per unit of $65,217. The total square footage of the building is 20,880, leading to a price per square foot of $71.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,500,000
• Buyer: Bhuyain Family
• Seller: Estate of Errol Smith
• Broker: Zalman Yarmush - Yarmush Investment Group
• Units: 23
• Price Per Unit: $65,217
• Total Square Footage: 20,880
• Price Per Square Foot: $71

Zalman Yarmush of Yarmush Investment Group represented the seller, Estate of Errol Smith, in this transaction. The deal reflected continued investor interest in rent-stabilized buildings, despite limited in-place cash flow, with an all-cash closing indicating confidence in potential long-term profitability.