Darren Smith Of Smith & Henzy Affordable Group Acquires 287-Unit Building In Brooklyn For $68.4M

A 287-unit residential building located at 94-120 Chauncey Street in Bedford Stuyvesant, Brooklyn was involved in a sale. The transaction was completed at a sale price of $68,400,000, equating to approximately $247 per square foot. The total square footage of the property stands at 277,200.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $68,400,000
• Buyer: Darren Smith - Smith & Henzy Affordable Group
• Seller: Joseph Hoffman - Bushburg Properties
• Market: Bedford Stuyvesant, Brooklyn

Darren Smith, representing Smith & Henzy Affordable Group, acquired the stake from Joseph Hoffman of Bushburg Properties. This transaction highlights the involvement of both parties in transferring ownership of the multifamily asset.