Bosfa Properties Acquires Multifamily Property in Freeport for $17.5 Million
Bosfa Properties purchases a 166,000 square foot multifamily property in Freeport, New York for $17.5 million.
In a recent transaction, Bosfa Properties, a prominent real estate investment firm, has acquired a multifamily property in Freeport, New York. The property, located at 17 Buffalo Avenue, spans approximately 166,000 square feet and was sold for a total price of $17.5 million. The deal, which was finalized on May 31, 2023, marks an important milestone for both the buyer and the seller, the Village of Freeport.
The multifamily property consists of 200 units, resulting in an average price per unit (PPU) of 87,500. With a price per square foot (PPSF) of 105, the transaction showcases the strong demand for multifamily assets in the Freeport market.
Bosfa Properties, known for its strategic investments in the real estate sector, has made a significant addition to its portfolio with this acquisition. The firm, led by Aron Goldstein and Daniel Goldstein, has a track record of successful transactions and a strong presence in the New York real estate market.
The Village of Freeport, as the seller, has successfully monetized its multifamily asset. The sale of the property aligns with the village’s strategic goals and allows for the allocation of resources to other important initiatives.
The transaction was facilitated by reputable brokers who played a crucial role in bringing the deal to fruition. Their expertise in the commercial real estate market and their understanding of the Freeport area contributed to the successful completion of the transaction.
The Freeport market has experienced significant growth in recent years, attracting both local and national investors. The village’s proximity to New York City, coupled with its vibrant community and amenities, has made it an attractive destination for multifamily investments.
This acquisition by Bosfa Properties further solidifies the company’s position in the Freeport market and demonstrates its confidence in the long-term potential of the area. With its strategic location and strong demand for multifamily properties, Freeport continues to be a hotspot for real estate investments.
In conclusion, Bosfa Properties’ acquisition of the multifamily property in Freeport for $17.5 million highlights the robust demand for multifamily assets in the area. The transaction not only benefits the buyer and the seller but also showcases the expertise of the brokers involved. As the Freeport market continues to thrive, investors like Bosfa Properties are capitalizing on the opportunities presented by this dynamic and growing community.