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Tiferes Yehuda Family Trust & Joel Waldman Acquire Industrial Building In Bedford Stuyvesant, Brooklyn For $5.6M

Property Image
SOLD
$5,600,000

New York

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Industrial13,440 SF
Sold 06/08/2023
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Property Image
SOLD

Tiferes Yehuda Family Trust & Joel Waldman Acquire Industrial Building In Bedford Stuyvesant, Brooklyn For $5.6M

64-66 Franklin Avenue Brooklyn, New York 11205

See Similar Deals
Industrial13,440 SF
Sold 06/08/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$416
Total Square Footage:13,440 SF
Transaction Type:Sale

The industrial building located at 64-66 Franklin Avenue in Bedford Stuyvesant, Brooklyn, has been sold for $5.6 million. The property, with 13,440 square feet of built space, was acquired by Tiferes Yehuda Family Trust, Joel Waldman, and others through their entity 64 Energy LLC. The transaction closed on June 8, 2023.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $5,600,000
  • Address: 64-66 Franklin Avenue, Bedford Stuyvesant, Brooklyn
  • Market: Bedford Stuyvesant, Brooklyn
  • Buyer: Tiferes Yehuda Family Trust, Joel Waldman
  • Seller: Raymond Lee
  • Square Footage: 13,440

The purchase of the industrial building at 64-66 Franklin Avenue was made by Tiferes Yehuda Family Trust, Joel Waldman, and others through their entity 64 Energy LLC. The property, located in Bedford Stuyvesant, Brooklyn, provides a significant amount of built space for industrial use.

Players

JW
Joel Waldman
3 deals$11.8M volume
BUYER

Details

SOLD
IMAGE: 06/08/2023 ADDRESS: 64-66 Franklin Avenue MARKET: Bedford Stuyvesant, Brooklyn ASSET TYPE: Industrial BUYER: Tiferes Yehuda Family Trust & Joel Waldman SELLER: Raymond Lee SALE PRICE: $5,600,000 SF: 13,440 ~ PPSF: $417 NOTE: The industrial building located at 64-66 Franklin Avenue in Bedford Stuyvesant, Brooklyn, has been sold for $5.6 million to Tiferes Yehuda Family Trust, Joel Waldman, and others through their entity 64 Energy LLC. The transaction, which closed on June 8, 2023, involves a property with 13,440 square feet of built space.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$298,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,895.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,546.86
Annual Debt Service$318,562.28