Updated Mar 11, 2025
Abe Lee Purchases Multifamily Property From Dominick Palmer In Brooklyn For $1.525M
1403 Bedford Avenue
$1,525,000
$586/SF
Building Size
2,600 SF
Asset Type
MultiFamily
Closing
Feb 12, 2025
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 1403 Bedford Avenue in Brooklyn. It comprises 3 units and has a total square footage of 2,600. The sale price for this asset was $1,525,000, resulting in a price per unit of $508,333 and a price per square foot of $586.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,525,000
- Units: 3
- Square Footage: 2,600
- Price Per Unit: $508,333
- Price Per Square Foot: $586
- Buyer: Abe Lee
- Seller: Dominick Palmer
- Broker: Daniel Barcelowsky - Evergreen Realty & Investments
The broker representing the transaction is Daniel Barcelowsky, affiliated with Evergreen Realty & Investments. This deal highlights the involvement of Abe Lee as the buyer and Dominick Palmer as the seller, facilitating the change of ownership for the multifamily asset.
On the Map
$1,525,000
$586/SF
MultiFamily
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Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.40%
Cash-on-Cash
-2.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93