Rahul Mehta Acquires Bushwick Multifamily For $1.4M With Brokers DJ Johnston, Thomas Donovan & Eugene Kim
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This MultiFamily property located in NY was sold for $1,400,000 over 1 year ago. The brokers of the deal were DJ Johnston, Thomas (Tom) Donovan, and Eugene Kim
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- Location367 Palmetto Street, Brooklyn, New York 11237, United States
- Sale Price$1,400,000$177 PPSF
- Area7,875 SF
- Asset TypeMultiFamily
- Parties3 Brokers, 2 Agencies
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Deal Summary
SALE
IMAGE: DJ Johnston, Thomas Donovan & Eugene Kim
DATE: 09/06/2022
ADDRESS: 367 & 371 Palmetto Street
MARKET: Bushwick
ASSET TYPE: Multifamily
BUYER: Rahul Mehta
SELLER: Andrew Boisselle
BROKERS: DJ Johnston (@B6RealEstate_JohnstonTeam), Thomas Donovan (@TeamDonovan_NYC) & Eugene Kim (@EugeneKim_B6) - B6 Real Estate Advisors (@B6RealEstate)
SALE PRICE: $1,400,000
UNITS: 12 ~ PPU: $116,667
SF: 7,875 ~ PPSF: $178
NOTE FROM BROKER: Our team successfully sold 367 & 371 Palmetto Street in Bushwick. The offering consisted of two 6-family walk-ups - ten occupied rent stabilized units, and two vacant units that had been vacant for the last ten years. The sales price of $1,400,000 equated to $178 per sf and a 6.58% cap rate. If you own a similar building & would be curious to know how this transaction translates please connect with our team. DJ Johnston - [email protected] - 914-584-7422 (Call/Text)
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367 & 371 Palmetto Street
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