Adam Semler Acquires Multifamily Property In Brooklyn Heights For $3.85M

Located at 90 State Street in the desirable neighborhood of Brooklyn Heights, Brooklyn, this multifamily property was recently sold in a closed transaction. The property is zoned R6 and LH-1, offering potential for development or conversion. The transaction took place on June 22, 2021.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,850,000
• Address: 90 State Street, Brooklyn Heights, Brooklyn
• Market: Brooklyn Heights, Brooklyn
• Zoning: R6, LH-1

The buyer of the property is Adam Semler, while the seller is Peter Athineos. The purchase price for this transaction was $3,850,000. The property offers a building square footage of 9,504, with a price per square foot of $405. The building has a total area of 8,748 square feet, with a price per buildable square foot of $440.

The property has a floor area ratio (FAR) of 2.64, allowing for further development potential. It falls under tax class 2. The lot size is 3,600 square feet, with lot dimensions of 36 feet by 100 feet. Notably, the property has permits for an alteration type 1, dated August 12, 1997.