Meridian Properties pays $12.1M for 53 units in Brooklyn

Meridian Properties paid $12.1 million for 53 units in Brooklyn in two separate transactions.

In the first, Michael Niamonitakis’s Meridian Properties through the entity M&M Park Slope Realty LLC paid Richard A. Kaplin’s Citywide Capital LLC $6.4 million for 269 Prospect Place in Prospect Heights. The deal closed on February 23, 2021 and was recorded on March 16, 2021. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 29 residential units. The property is 15,384 square feet. The parcel(s) have total development potential of 15,384 square feet.
The sale price per unit is $220,690.

Direct link to Acris document. link

In the second, Meridian Properties through the entity M&M Park Slope Realty LLC paid Richard A. Kaplin’s 558 11Th St. LLC $5.7 million for 558 11th Street in Park Slope. The deal closed on February 23, 2021 and was recorded on March 16, 2021. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 24 residential units. The property is 13,280 square feet. The parcel(s) have total development potential of 13,280 square feet.
The sale price per unit is $237,500.

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.

Direct link to Acris document. link