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Meridian Sells a Multifamily Property in the Ditmas Park Area of Brooklyn, NY for $3.3 Million

Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, sold a multifamily property in Brooklyn, NY for $3.3 million. Managing Director, Adam Sprung, and Vice President, Jason Goldy, represented the seller and procured the buyer, Jason Wisotsky of Four Corners Development Group, in this transaction.

Located at 2317 Newkirk Avenue in Brooklyn’s Ditmas Park neighborhood, the four-story multifamily property is 15,600 square feet and contains 16 units. The building is located less than one block from Flatbush Avenue, one of the area’s premier corridors, and is within walking distance from a plethora of attractions, shops, schools, and restaurants, including Kings Theatre, Brooklyn College, Target, CVS, and Milk and Honey Café. The property is also easily accessible via several subway lines, including the 2 and 5 trains at the Newark Avenue / Nostrand Avenue station, which is located less than eight blocks away.

Situated along the southern border of Prospect Park, Brooklyn’s Flatbush—Ditmas Park neighborhood features an eclectic mix of cultures, architecture, and cuisine. The residential area is characterized by quiet streets lined with Victorian mansions and local businesses scattered along Flatbush Avenue. The neighborhood is easily accessible from both Wall Street and Times Square via the 2, 5, and Q trains, and offers quick access to both JFK and LaGuardia airports by car.

“We are very bullish on the area and have seen a substantial uptick in interest and activity there. The metrics on this deal underscore the neighborhood’s growth potential and are foreshadowing for further growth in the immediate vicinity,” said Mr. Goldy.

Founded in 1991, Meridian Capital Group, LLC is one of the nation's largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com