Mikael Rapaport Acquires Multifamily Property In Bedford Stuyvesant For $1.3M

A multifamily property located at 177 Madison Street in Bedford Stuyvesant, Brooklyn, was recently sold for $1,300,000. The property has a total of 3,168 square feet, resulting in a price per square foot of $410. The sale of the property took place on May 24, 2019. The sellers of the property were Awilda Cactus, Boyd Dennis Parrott, and Sarah Parrott, while the buyer was Mikael Rapaport. The transaction was represented by brokers @MikePeguero and Keith Arthur.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,300,000
• Address: 177 Madison Street
• Market: Bedford Stuyvesant
• Square Footage: 3,168

It's worth noting that the property was delivered vacant in 'As Is' estate condition. The buyer, Mikael Rapaport, plans to undertake a complete gut renovation of the property to cater to an end user's needs. Additionally, the buyer's broker, @MikePeguero, is actively seeking redevelopment opportunities in prime Brooklyn neighborhoods.