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255 Malcolm X Boulevard, Br...

Jake Gao Acquires Mixed-Use Property In Bedford-Stuyvesant From Steve Seiden
SOLDMixed-use

Jake Gao Acquires Mixed-Use Property In Bedford-Stuyvesant From Steve Seiden

255 Malcolm X Boulevard, Brooklyn, New York 11233, United States

$1,850,000

$273/SF

Building Size

6,760 SF

Asset Type

Mixed-use

Closing

Jun 8, 2022

AI

Located at 255 Malcolm X Blvd in Bedford-Stuyvesant, this mixed-use property was recently sold in a closed transaction. The sale took place on 06/09/2022 and involved a property with a total area of 6,760 square feet. The market value of this asset is reported to be $1,850,000, resulting in a price per square foot of $273.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $1,850,000
  • Date: 06/09/2022
  • Address: 255 Malcolm X Blvd

The buyer in this transaction was Jake Gao, while Steve Seiden acted as the seller. The deal was facilitated by Reuben Lugassy and Avraham Birnbaum from Twelve Stones Realty, who represented their respective clients throughout the transaction.

Players

Avraham Birnbaum

Twelve Stones Realty

Broker

$44.7M

vol

24 deals

Broker

New York 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

8.57%

Cash-on-Cash

-2.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93