Mike Niamonitakis Acquires Multifamily Property In Bay Ridge, Brooklyn For $3.3M
6902 Ridge Boulevard
33,699 SF
Summary
Located in Bay Ridge, Brooklyn, the recently closed multifamily property transaction at 6902 Ridge Boulevard has been successfully completed. This property has a total of 39 units and spans across an impressive 33,699 square feet. The sale price for this asset was $3,300,000, resulting in a price per unit of $84,615. The price per square foot was calculated at $97, showcasing the market value of this property. With a capitalization rate of 3.01%, this transaction highlights the desirability and potential investment opportunity of the property.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,300,000
- Total Units: 39
- Price per Unit: $84,615
- Total Square Footage: 33,699
- Price per Square Foot: $97
- Capitalization Rate: 3.01%
The buyer in this transaction was Mike Niamonitakis, who saw great potential in this property. Representing the buyer in the deal were brokers Shaun Riney and Mark Zarrella from Marcus & Millichap. The expertise and negotiation skills of these brokers played a crucial role in facilitating the successful completion of this transaction. Their dedication and commitment reflect their professionalism in the real estate industry.
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