Zach and Akabi of Itzhaki rep buyer in $3.15m sale

Itzhaki Properties has completed the sale of 84 Lawrence Ave., Borough Park. The subject property is a 32,000 s/f multifamily building with 35 apartments located two blocks away from the F train on 18th Ave. and is within close proximity to food and retail. The 100-ft.-wide building sold for $3.15 million which represents $90,000 per unit and a gross rent multiplier of 9.6 times. The property has potential due to its current low rents. The deal was closed about a month after contract execution. The buyer was represented by Shay Zach and Itai Akabi of Itzhaki, and the seller by Ivan Hakimian of Itzhaki.

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