Duke Properties Acquires Multifamily Property In Bedford Stuyvestant, BK For $1.362M Loan

Located in Bedford Stuyvesant, Brooklyn, the multifamily property at 236 Malcolm X Blvd has recently changed hands. The acquisition was financed with a loan amount of $1.362 million. The loan, provided by Metropolitan Bank, is a non-recourse loan with full term interest only. The transaction was brokered by Brad Domenico from Progress Capital, representing the buyer. The seller, Albert Dweck of Duke Properties, completed the deal with the help of his representative, Jay Shah from Metropolitan Bank.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1.362 million
• Broker: Brad Domenico - Progress Capital
• Landlord: Albert Dweck - Duke Properties
• Lender: Jay Shah - Metropolitan Bank

The successful acquisition of the multifamily property at 236 Malcolm X Blvd was made possible through the collaboration of key individuals and companies. Brad Domenico, representing the buyer, played a crucial role in securing the deal. On the seller's side, Albert Dweck, the landlord and owner of Duke Properties, was instrumental in completing the transaction. Jay Shah, the lender from Metropolitan Bank, provided the necessary financing for the acquisition.