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164 Stuyvesant Avenue, Broo...

Jason Hart Acquires Apartment Building In Bedford-Stuyvesant, Brooklyn From Barry Septimus
SOLDMultiFamily

Jason Hart Acquires Apartment Building In Bedford-Stuyvesant, Brooklyn From Barry Septimus

164 Stuyvesant Avenue, Brooklyn, New York 11221, United States

$3,732,500

$681/SF

Building Size

5,480 SF

Asset Type

MultiFamily

Closing

Mar 20, 2022

AI

An apartment building located at 164 Stuyvesant Avenue in Bedford-Stuyvesant, Brooklyn was recently sold in a closed property transaction. The property, with a lot size of 1,950 square feet, is zoned as R6A and has a tax class of 2B. The building has a total square footage of 5,850 and a price per square foot of $681. The total sale price for the building was $3,732,500. The sale took place on March 21, 2022.

Summary of transaction details

  • Property Type: Apartment Building
  • Transaction Amount: $3,732,500
  • Market: Bedford-Stuyvesant, Brooklyn
  • Buyer: Jason Hart
  • Seller: Barry Septimus
  • Building Square Footage: 5,850
  • Price per Square Foot: $681
  • Lot Size: 1,950 square feet
  • Zoning: R6A
  • Tax Class: 2B

The buyer, Jason Hart, and the seller, Barry Septimus, were the key individuals involved in this transaction. The property also has an alteration permit dating back to December 2, 2014, indicating that modifications have been made in the past. The lot dimensions are 19.5 feet by 100 feet, and the building has a floor area ratio (FAR) of 2.81. These additional details shed light on the property and individuals involved in the deal.

Players

Jason Hart

Carlyle Group

Buyer

$349.4M

vol

7 deals

Buyer

New York 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

4.25%

Cash-on-Cash

-1.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93