Azzam Obeid pays $5M for multifamily property in Bay Ridge

Azzam Obeid through the entity 67th Street Realty Property LLC paid Raymond Orfaly and Jeanette Kahaly’s Raymond E. Orfaly As Trustee $5.5 million for 484 67th Street in Bay Ridge. The deal closed on June 9, 2020, and was recorded on June 17, 2020. The transaction consists of 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 21 residential units. The property is 16,748 square feet. The parcel(s) have total development potential of 16,748 square feet.
The sale price per unit is $261,190.

The contract date is January 30, 2020.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $50,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link