Meridian Properties Acquires Apartment Building In Bay Ridge, Brooklyn For $12.5M

A 46-unit apartment building located at 218 74th Street in Bay Ridge, Brooklyn has been sold for a total price of $12,500,000. The property spans a total square footage of 41,760 and has a price per square foot of $299. The buyer, Meridian Properties, acquired the asset from the seller, Madeline Behette. The transaction was facilitated by the brokers from GFI Realty Services, namely Yosef Katz, Natan Safdieh, and Erik Yankelovich.

Summary of transaction details

• Property Type: Apartment Building
• Transaction Amount: $12,500,000
• Square Footage: 41,760
• Price per Square Foot: $299
• Number of Units: 46
• Price per Unit: $271,000
• Seller: Madeline Behette
• Buyer: Meridian Properties
• Broker: GFI Realty Services – Yosef Katz, Natan Safdieh, and Erik Yankelovich

The individuals responsible for representing the buyer, seller, and the transaction as a whole were Yosef Katz, Natan Safdieh, and Erik Yankelovich of GFI Realty Services. This acquisition marks a significant investment opportunity in Bay Ridge, Brooklyn.