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827 Gates Ave, Brooklyn, NY...

Guy Peleg Acquires Multi Family Property In Bedford-Stuyvesant, Brooklyn For $3.5M
SOLDMultiFamily

Guy Peleg Acquires Multi Family Property In Bedford-Stuyvesant, Brooklyn For $3.5M

827 Gates Ave, Brooklyn, NY 11221, USA

$705,000

$27/SF

Building Size

25,800 SF

Asset Type

MultiFamily

Closing

Sep 15, 2020

AI

A multi-family property located at 192 Stuyvesant Avenue in Bedford-Stuyvesant, Brooklyn has been sold. The property is zoned as R6A, C2-4 and has a lot size of 1,875 square feet. The building has a total square footage of 7,907, with a buildable square footage (BSF) of 5,625. The purchase price for this property was $3,500,000, resulting in a price per buildable square footage (PPBSF) of $622, and a price per square foot (PPSF) of $443. The property has a floor-area ratio (FAR) of 4.22 and falls under tax class 2B. The previous sale of this property took place on August 19, 2015, with a sale price of $0.

Summary of transaction details

  • Property Type: Multi Family
  • Transaction Amount: $3,500,000
  • Address: 192 Stuyvesant Avenue, Bedford-Stuyvesant, Brooklyn
  • Market: Bedford-Stuyvesant, Brooklyn
  • Zoning: R6A, C2-4

Guy Peleg purchased the property from Avraham Benhamo. The transaction involved a total of 5,625 buildable square footage. The lot dimensions are 18.75 ft x 100 ft.

Players

Ben Kopilev

Venture Capital Properties

Broker

$19.3M

vol

4 deals

Broker

Guy Peleg

Artlife Development

Buyer

$36.4M

vol

6 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

22.50%

Cash-on-Cash

-6.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93