Tom Reynolds, Derek Bestreich, Steve Reynolds, And Brian Davila Acquire Mixed-use/multifamily Property At 271-273 Malcolm X Blvd In Bedford Stuyvesant, Brooklyn For $4M
271 Malcolm X Blvd, Brooklyn, NY 11233, USA
$2,300,000
$21/SF
Building Size
105,300 SF
Asset Type
Mixed-use
Closing
Oct 9, 2018
About this deal
AI
The mixed-use/multifamily property located at 271-273 Malcolm X Blvd in Bedford Stuyvesant, Brooklyn has been sold for a total of $4 million. The sale consisted of two separate transactions, with 273 Malcolm X Blvd selling for $1.7 million and 271 Malcolm X Blvd selling for $2.3 million. The total square footage of the property is 10,530, and the price per square foot is $380. The sale price per unit is $307.
Summary of transaction details
- Property Type: Mixed Use/Multifamily
- Transaction Amount: $4 million
- Address: 271-273 Malcolm X Blvd, Bedford Stuyvesant, Brooklyn
- Market: Bedford Stuyvesant, Brooklyn
- Square Footage: 10,530
- Price per Square Foot: $380
- Price per Unit: $307
The sale was brokered by Tom Reynolds, Derek Bestreich, Steve Reynolds, and Brian Davila.
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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93