Black Spruce Management Acquires Multifamily Property In Briarwood For $87.2M

The multifamily property located at 80-08 & 81-10 135th Street in Briarwood has been sold for a total price of $87,200,000. The property, with an address spanning across the two parcels, boasts a total building square footage (BSF) of 344,964, resulting in a price per BSF (PPBSF) of $252. The total lot size of the property is 55,600 square feet, with dimensions measuring 200 feet by 278 feet.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $87,200,000
• Address: 80-08 & 81-10 135th Street, Briarwood
• Market: Briarwood
• Zoning: R6A
• Buyer: Black Spruce Management - Josh Gotlib
• Seller: The Musso Group
• Broker: Thomas Donovan - B6 Real Estate Advisors
• BSF: 344,964
• PPBSF: $252
• SF: 398,581
• PPSF: $218
• Units: 383
• PPU: $227,676
• FAR: 4.21
• Tax Class: 2
• Last Sale Price: $28,000,000 (10/7/2009)

The buyer, Black Spruce Management led by Josh Gotlib, successfully acquired the property from the seller, The Musso Group. Facilitating the transaction was Thomas Donovan from B6 Real Estate Advisors, serving as the broker for the deal.