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
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