Russell Hashem Acquires Multifamily Property In Kensington, Brooklyn For $1.9M

The multifamily property located at 125 & 127 Webster Avenue in Kensington, Brooklyn was recently sold. The property has a total of 10,495 square feet and consists of 12 units. The sale price for this transaction was $1,900,000, resulting in a price per square foot of $181. Each unit was sold for an average price of $158,333. The capitalization rate for this property is 4.69%. The transaction took place on May 27, 2021.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,900,000
• Address: 125 & 127 Webster Avenue, Kensington, Brooklyn
• Market: Kensington, Brooklyn
• Asset Type: Multifamily
• Tax Class: 2A

The buyer for this property was Russell Hashem, while the seller was Joseph Genovesi. The deal was facilitated by brokers John Brennan from The Brennan Team of Marcus & Millichap and Samuel Finkler from Marcus & Millichap. This transaction demonstrates the continued activity and demand for multifamily properties in the Kensington, Brooklyn market.