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285 Quincy Street, Bedford-...

Klosed Properties Acquires Multifamily Property In Bedstuy, Brooklyn For $2.5M
SOLDMultiFamily

Klosed Properties Acquires Multifamily Property In Bedstuy, Brooklyn For $2.5M

285 Quincy Street, Bedford-Stuyvesant, Brooklyn, NY, USA

$2,500,000

$80/SF

Building Size

31,042 SF

Asset Type

MultiFamily

Closing

Jan 7, 2021

AI

The multifamily property located at 285 Quincy Street in Bedstuy, Brooklyn has been sold. The property, with a total area of 31,042 square feet, was purchased by Klosed Properties, represented by Steven Kachanian, Jacob Namdar, and Adam Hajibai. The sale was facilitated by brokers Matthew Cosentino and Fred Bijou from TerraCRG. The selling party was Wilmaud Realty Corp. The transaction took place on January 8th, 2021.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,500,000
  • Address: 285 Quincy Street, Bedstuy, Brooklyn
  • Market: Bedstuy, Brooklyn
  • Zoning: R6B

Klosed Properties, a real estate company, expressed their excitement about this acquisition, as it marks their first purchase of 2021. They currently have nine other deals under contract and are actively seeking opportunities to expand their portfolio in the New York Metro area. For further inquiries or potential property opportunities, interested parties can reach out to Adam Hajibai and Jacob Namdar, whose contact information is provided below.

Contact information:

Players

Fred Bijou

Bijou Equities

Broker

$107.3M

vol

33 deals

Broker
Jacob Namdar

Jacob Namdar

Buyer

$22.7M

vol

15 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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93