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 in a closed transaction. The property consists of 6 units and spans approximately 4,500 square feet. The sale price for this transaction was $1,675,000, resulting in a price per unit of $279,166 and a price per square foot of $372. The property was purchased by Kings Capital, represented by Jeffrey Znaty and Goerge Giannopoulos, from Simon Marom. The buyer was assisted by brokers Zachary Fuchs, and Moshe Goldberger from GFI Realty.

Summary of transaction details:

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

In this off-market deal, Kings Capital acquired the 6 free market units from long-term ownership. It is worth noting that Kings Capital is actively seeking value-add multifamily properties and development sites in the New York Metro Area, as well as larger garden-style apartment complexes across the Sunbelt. For any potential deals or opportunities, they can be contacted at [email protected]. Special thanks go to all parties involved in this transaction.