Astral Properties Acquires 8-Unit Multifamily In Bedford Stuyvesant For $3.35M

215 Ralph Ave, a multifamily property located in Bedford Stuyvesant, Brooklyn, has been sold for $3,350,000. The building features 8 units, with an average price per unit of $418,750. The total square footage of the property is 6,760, resulting in a price per square foot of $495. The sale was finalized on June 24, 2022, and the property achieved a cap rate of 5.37%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,350,000
• Units: 8
• Price per Unit: $418,750
• Square Footage: 6,760
• Price per Square Foot: $495
• Cap Rate: 5.37%

Astral Properties purchased 215 Ralph Ave from Matthew & Seth Weissman. The transaction was facilitated by DJ Johnston from B6 Real Estate Advisors. The buyer's investors were particularly concerned about having proper paperwork to support the "Free Market" status of the property. The seller's thorough data collection and preparation resulted in a 10% premium for the sale. For more information or if you have any specific questions about this transaction, you can contact DJ Johnston at 914-584-7422 or [email protected].