Kings Capital Acquires Multifamily Property In Bushwick, Brooklyn For $1.675M

A multifamily property located at 352 Palmetto St. in Bushwick, Brooklyn has been sold for $1,675,000. The asset consists of 6 free market units with a total square footage of 4,500, resulting in a price per unit of $279,166 and a price per square foot of $372. This transaction occurred on June 28, 2022, and was noted as an off-market deal from long-term ownership.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,675,000
• Address: 352 Palmetto St.
• Market: Bushwick, Brooklyn
• Units: 6
• PPU: $279,166
• SF: 4,500
• PPSF: $372
• Buyer: Kings Capital - Jeffrey Znaty & Goerge Giannopoulos
• Seller: Simon Marom
• Agents: Zachary Fuchs & Moshe Goldberger - GFI Realty

Kings Capital, represented by Jeffrey Znaty and Goerge Giannopoulos, is actively pursuing value-add multifamily and development sites within the New York Metro Area as well as larger garden-style apartment complexes across the Sunbelt. Special thanks are extended to all parties involved in this transaction.