Firebird Grove Sells Multifamily Asset At 303 Bedford Avenue Williamsburg For $4.8M
SOLD
$4,800,000
New York
See Similar DealsMultiFamily2,885 SF
Sold 04/23/2025
SOLD
Firebird Grove Sells Multifamily Asset At 303 Bedford Avenue Williamsburg For $4.8M
303 Bedford Avenue
See Similar DealsMultiFamily2,885 SF
Sold 04/23/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,663
Total Square Footage:2,885 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 303 Bedford Avenue, Williamsburg, Brooklyn. The transaction was closed at a price of $4,800,000, encompassing three units within a total square footage of 2,885. The price per unit was calculated to be $1,600,000, with a price per square foot of $1,663.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,800,000
- Units: 3
- Square Footage: 2,885
- Price per Unit: $1,600,000
- Price per Square Foot: $1,663
- Cap Rate: 5.85%
- Seller: Firebird Grove
- Broker Representatives: Shaun Riney & Michael Salvatico - Marcus & Millichap
Key individuals involved in the transaction include Shaun Riney and Michael Salvatico serving as the brokers, while Jake Kahn of Dansker Capital Group arranged the financing. Lee Edelson provided legal counsel as the sellers' attorney.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$256,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39
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