Abraham Jeremias pays $8M to Eric Silverstein for multifamily property in Flatbush

Abraham Jeremias through the entity 625 Ocean Ave LLC paid Eric Silverstein’s 625 Ocean Company $8.0 million for 2005 Albemarle Road in Flatbush. The deal closed on November 25, 2019, and was recorded on December 5, 2019. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 53 residential units. The property is 54,826 square feet. The parcel(s) have total development potential of 62,121 square feet.
The sale price per unit is $150,943.
The estimated cap rate is 2.8%

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link