Brooklyn Multifamily Property Sells for $4 Million

Jonathan Strasser, a real estate investor, has purchased a multifamily property in Borough Park, Brooklyn for 4 million. The property, located at 1658 59th Street, has a total of 16,749 square feet and a price per square foot of 238. The property has a zoning of R5 and a FAR of 2.09. The tax class for the property is 1 and the lot size is 8,014 square feet with dimensions of 80 feet by 100.17 feet. The property was sold with an alteration permit from August 16, 2019.

The property has a building square footage of 10,018 and a price per building square foot of $399. The property is a multifamily building, which means it has multiple units for residential use. The buyer plans to make alterations to the property, which could potentially increase the value of the property.

The seller of the property has not been disclosed. The brokers involved in the deal have also not been disclosed. However, it is likely that the buyer had a team of brokers to help with the purchase of the property.

Borough Park is a neighborhood in Brooklyn that is known for its large Orthodox Jewish community. The neighborhood has a mix of residential and commercial properties. The sale of this multifamily property could potentially signal a growing interest in the area from real estate investors. Overall, the sale of this property highlights the continued demand for multifamily properties in Brooklyn and the potential for value-add opportunities through property alterations.