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568 Jefferson Avenue, Bedfo...

Estate Of Winston Burnham Sells Multifamily Property In Bedford-Stuyvesant For $2.99M
SOLDMultiFamily

Estate Of Winston Burnham Sells Multifamily Property In Bedford-Stuyvesant For $2.99M

568 Jefferson Avenue, Bedford-Stuyvesant, Brooklyn, NY, USA

$2,995,000

$1,361/SF

Building Size

2,200 SF

Asset Type

MultiFamily

Closing

Jan 27, 2021

AI

The multifamily property located at 568 Jefferson Avenue in Bedford-Stuyvesant was recently sold. The sale was facilitated by Marcel Fridman of Barcel Group, who represented the seller, the Estate of Winston Burnham. The property was sold for a price of $2,995,000. The building spans a total of 6,842 square feet, resulting in a price per square foot of $437. It is worth noting that the building was delivered fully vacant at the time of closing.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,995,000
  • Address: 568 Jefferson Avenue
  • Market: Bedford-Stuyvesant
  • Zoning: R6B

Marcel Fridman of Barcel Group played a key role in the transaction as the seller's representative. His expertise helped facilitate the sale of the property smoothly and efficiently.

Players

Brad Domenico

Cushman & Wakefield

Broker

$4B

vol

137 deals

Broker
Progress Capital
Progress CapitalBrokerage
Savoy Bank
Savoy BankLender

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

5.30%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93