Herman Jacob Acquires Mixed-Use Property In Bedford Stuyvesant For $5.5M
499 Dekalb Ave. 501 Dekalb Ave. 503 Dekalb Ave.
$5,500,000
$550/SF
Building Size
10,000 SF
Asset Type
Mixed-use
Closing
Nov 17, 2022
About this deal
AI
The mixed-use property located at 499 Dekalb Ave, 501 & 503 Dekalb Ave in Bedford Stuyvesant has been sold for a total price of $5,500,000. The property spans a total of 10,000 square feet, resulting in a price per square foot of $550.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $5,500,000
- Address: 499 Dekalb Ave, 501 & 503 Dekalb Ave
- Market: Bedford Stuyvesant
- Buyer: Herman Jacob
- Seller: The Estate Of Victor Battaglia
Herman Jacob has acquired the property from The Estate Of Victor Battaglia. This transaction marks the successful completion of the deal between the buyer and the seller.
Players
Bedford Stuyvesant Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93