The Hamdan Family Acquires Multifamily Property in Bay Ridge, Brooklyn for $1.35M

The Hamdan Family has expanded their real estate portfolio with the acquisition of a 6-unit multifamily property in Bay Ridge, Brooklyn. The property, located at 560 Ovington Avenue, was sold by Phil Kelly for $1.35M. The sale was facilitated by brokers Shlomo Antebi, Yosef Katz, Erik Yankelovich, and Natan Safdieh of Atlas Realty Group NY.

The property spans 5,808 square feet and sold for 232 per square foot. Each unit was sold for an average of 225,000. The property is located in the Bay Ridge neighborhood of Brooklyn, which has seen a surge in demand for multifamily properties in recent years. The area is known for its waterfront views, parks, and proximity to Manhattan.

The Hamdan Family, a prominent real estate investment firm, has been active in the New York City market for several years. They have a diverse portfolio of properties, including multifamily, commercial, and mixed-use buildings. The acquisition of this property in Bay Ridge is a strategic move for the Hamdan Family, as they continue to expand their presence in the New York City real estate market.

The seller, Phil Kelly, is a local real estate investor who has been active in the Bay Ridge market for several years. The sale of this property represents a successful exit for Kelly, who was able to achieve a sale price of $1.35M.

Overall, the sale of this multifamily property in Bay Ridge is indicative of the strong demand for multifamily properties in New York City. The Hamdan Family’s acquisition of this property is a testament to their confidence in the New York City real estate market and their ability to identify attractive investment opportunities.