Robert M Freeman Acquires Multifamily Property In Bedford-Stuyvesant For $3.5M

A multifamily property located at 588 Madison Street in Bedford-Stuyvesant, Brooklyn has been sold in a closed transaction. The property is zoned as R6B and has a total of 4,000 square feet of buildable space. The sale took place on 05/11/2022.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,532,000
• Market: Bedford-Stuyvesant, Brooklyn
• Zoning: R6B
• Buyer: Robert M Freeman
• Seller: Charles R Aboah
• Building Square Footage (BSF): 4,000
• Price Per Buildable Square Foot (PPBSF): $883
• Land Square Footage (SF): 3,880
• Price Per Square Foot (PPSF): $910
• Floor Area Ratio (FAR): 1.94
• Tax Class: 1
• Lot Size: 2,000
• Last Sale Price: $2,610,000 (08/24/2016)
• Permits: Alteration 2 (07/23/2015)
• Lot Dimensions: 20 ft x 100 ft

Robert M Freeman represented the buyer in this transaction, while Charles R Aboah represented the seller.