Meridian Properties Acquires Multifamily Building From Semen Family In Bensonhurst For $6M

The property asset involved in the transaction is a multifamily building located at 7920 19th Avenue in Bensonhurst, Brooklyn. The sale price was $6,000,000 for this well-managed building, which comprises 48 units and covers a total area of 48,000 square feet. The price per unit was calculated at $125,000, and the price per square foot is also $125.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,000,000
• Units: 48
• Square Footage: 48,000
• Price per Unit: $125,000
• Price per Square Foot: $125
• Buyer: Meridian Properties
• Seller: Semen Family
• Brokers: John Brennan & Bryan Ellis - Marcus & Millichap

John Brennan and Bryan Ellis represented the seller, Semen Family, in this transaction. The brokers noted that the building has an excellent history of rent collections and minimal violations, emphasizing its well-managed nature.