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173 Malcolm X Blvd, Brookly...

@OrenNeria Acquires Multifamily Property In Bedford Stuyvesant For $1M
SOLDMultiFamily

@OrenNeria Acquires Multifamily Property In Bedford Stuyvesant For $1M

173 Malcolm X Blvd, Brooklyn, NY 11221, USA

$1,000,000

$37/SF

Building Size

27,000 SF

Asset Type

MultiFamily

Closing

Jun 3, 2020

AI

The multifamily property located at 173 Malcolm X Blvd in Bedford Stuyvesant has been sold for a price of $1,000,000. The property spans across 2,700 square feet and has a price per square foot of $370. It consists of 4 units, with each unit costing $250,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,000,000
  • Square Footage: 2,700
  • Price per Square Foot: $370
  • Units: 4
  • Price per Unit: $250,000

The seller of the property was Alvin Griffith, while the buyer was @OrenNeria. The transaction was facilitated by Marcel Fridman from 's REP Marcel Fridman. The deal was successfully closed in just 10 days from the signing of the contract.

Players

Marcel Fridman

Barcel Group

Broker

$456.5M

vol

142 deals

Broker

Oren Neria

Buyer

$12.2M

vol

4 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

15.86%

Cash-on-Cash

-4.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93