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Barberry Rose Mgmt Acquires Multifamily Property In East Flatbush, Brooklyn For $6.5M

488 Rockaway Parkway
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This MultiFamily property located in NY was sold for $650,000 about 5 years ago. The broker of the deal was Jeffrey Znaty

A multifamily property located at 488 Rockaway Pkwy in East Flatbush, Brooklyn has been sold for $6.5 million. The building spans approximately 30,000 square feet, resulting in a price per square foot of $216. The transaction took place on March 18, 2019.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6.5M
  • Address: 488 Rockaway Pkwy
  • Market: East Flatbush, Brooklyn

The seller of the property was the Silverstein Family, while the buyer was Barberry Rose Management represented by Lewis Barbanel. The deal was facilitated by Jeffrey Znaty of Kassin Sabbagh Realty. Notably, the building was delivered with a 30% vacancy rate. The property had been under the same ownership for over 50 years.

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  • Location
    488 Rockaway Pkwy, East Flatbush, Brooklyn, NY, USA488 Rockaway Pkwy, East Flatbush, Brooklyn, NY, USA
  • Sale Price
    $650,000$650,000
    $21 PPSF$21 PPSF
  • Area
    30,000 SF30,000 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Jeffrey Znaty

Jeffrey Znaty

Deals6
Financed$49.4M

Agency

Kassin Sabbagh Realty

Kassin Sabbagh Realty

Agency
Deals1091
Volume$7.1B

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Deal Summary

SALE IMAGE: Jeffrey Znaty DATE: 03/18/2019 ADDRESS: 488 Rockaway Pkwy MARKET: East Flatbush, Brooklyn ASSET TYPE: Multifamily SELLER: Silverstein Family BUYER: Barberry Rose Mgmt - Lewis Barbanel BROKER: Jeffrey Znaty - Kassin Sabbagh Realty SALE PRICE: $6.5M SF: 30K ~ PPSF: $216 NOTE: Building was delivered 30% vacant and has been in same ownership for over 50 years!

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488 Rockaway Parkway

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