Carl D Brown Acquires Multifamily Property In Prospect Park South, Brooklyn For $3.6M

An incredible multifamily property located at 85 Buckingham Road in Prospect Park South, Brooklyn has been sold in a recent transaction. The property is situated in a desirable neighborhood and offers a great investment opportunity.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,625,000
• Market: Prospect Park South, Brooklyn
• Address: 85 Buckingham Road
• Zoning: R1-2

The buyer, Carl D Brown, has successfully acquired this property from the seller, Aaron Boyajian. The sale price of $3,625,000 reflects the high value and potential of the asset. The property has a total building square footage of 7,800 with a price per building square footage of $464, indicating a solid investment opportunity.

The property itself spans across 4,680 square feet, with a price per square foot of $774. The lot size is 15,594 square feet, providing ample space for various purposes. The lot dimensions are 60 feet by 260 feet, offering a generous footprint for potential development or renovation.

Previous records show that the property was previously sold for $1,800,000 back on March 19, 2012. This demonstrates a significant increase in value over time, highlighting the potential for further appreciation in the future.

The transaction falls under tax class 1, which is an important consideration for potential buyers or investors. Additionally, the property has a floor area ratio (FAR) of 0.30, further contributing to its value and potential for development.

Overall, the sale of the multifamily property at 85 Buckingham Road in Prospect Park South, Brooklyn, for $3,625,000 presents an excellent opportunity for Carl D Brown and showcases the potential of this prime real estate investment.