Updated Dec 19, 2023
Bedford-Stuyvesant Multifamily Sells For $1.93M With BRG's Derek, Adam, Steve, Tom, Brian, And Sean
240A Vernon Ave, Bedford-Stuyvesant, Brooklyn, NY, USA
$1,930,000
$574/SF
Building Size
3,360 SF
Asset Type
MultiFamily
Closing
Dec 2, 2021
About this deal
AI
The multifamily property located at 240A Vernon Ave in Bedford-Stuyvesant, Brooklyn has been sold for a price of $1,930,000. The property spans a total of 3,360 square feet, resulting in a price per square foot of $574. The sale took place on 12/02/2021 and the property is classified as a 2A tax class. The transaction reflects a 4.7% capitalization rate.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $1,930,000
- Square Footage: 3,360
- Price per Square Foot: $574
- Market: Bedford-Stuyvesant, Brooklyn
- Tax Class: 2A
Derek Bestreich, Adam Lobel, Steve Reynolds, Tom Reynolds, Brian Davila, and Sean Mashihi, all representing BRG (Bestreich Realty Group), were the brokers involved in this transaction.
The property has undergone a full renovation and offers potential for increased rental income.
Players
Brooklyn 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
8.22%
Cash-on-Cash
-2.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93