Updated Dec 21, 2023
Record Breaking $3.25M Sale Of Multifamily Property In Bedford-Stuyvesant By Alex Piroozian
466 Greene Avenue, Bedford-Stuyvesant, Brooklyn, NY, USA
$3,250,000
$1,444/SF
Building Size
2,250 SF
Asset Type
MultiFamily
Closing
May 9, 2021
About this deal
AI
The recently closed property transaction in Bedford-Stuyvesant involved a multifamily asset located at 466 Greene Avenue. The property consists of two units with a total square footage of 2,250. The asking price for this property was $2,950,000, but it was ultimately sold for $3,250,000, setting a record-breaking sales price for a two-family property in Bedford-Stuyvesant. The price per square foot for this transaction was $1,444, and the per unit price was $1,625,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,250,000
- Address: 466 Greene Avenue
- Market: Bedford-Stuyvesant
Alex Piroozian was the representative in this transaction and can be contacted at 516-423-9770.
Players
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
4.88%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93