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339 Macon Street

Updated Dec 4, 2024

Nikole Hannah-Jones Acquires Bed-Stuy Multifamily From Warren Hayes For $2.6M
SOLDMultiFamily

Nikole Hannah-Jones Acquires Bed-Stuy Multifamily From Warren Hayes For $2.6M

339 Macon Street

$2,600,000

$619/SF

Building Size

4,200 SF

Asset Type

MultiFamily

Closing

Feb 27, 2024

About this deal

AI

The multifamily property located at 339 Macon Street in Bed-Stuy, Brooklyn was sold for $2,600,000. This property consists of 5 units with a total square footage of 4,200, resulting in a price per unit of $520,000 and a price per square foot of $619. The seller of this asset was Warren Hayes, while the buyer was Nikole Hannah-Jones. The property was brokered by Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila, and Noah Middlekauff from Investment Property Realty Group (IPRG).

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,600,000
  • Address: 339 Macon Street
  • Market: Bed-Stuy, Brooklyn
  • Units: 5
  • Square Footage: 4,200
  • Price per Unit: $520,000
  • Price per Square Foot: $619

The building, which was 100% vacant, had previously housed the renowned Macon Hardware store for over 70 years. Nikole Hannah-Jones made the acquisition from Warren Hayes, facilitated by the team of brokers led by Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila, and Noah Middlekauff from Investment Property Realty Group (IPRG).

On the Map

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$2,600,000

$619/SF

MultiFamily

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Players

Brian Davila

Investment Property Realty Group (IPRG)

Broker

$290.4M

vol

111 deals

Broker
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Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $619 per square foot on a published $2.6M for 4,200 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.10%

Cash-on-Cash

-1.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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