Updated Oct 28, 2024
Pristine Developers Acquire Multifamily Property In Bedford-Stuyvesant For $1M
481 Putnam Avenue, Brooklyn, New York 11221, United States
$1,000,000
$277/SF
Building Size
3,600 SF
Asset Type
MultiFamily
Closing
Mar 29, 2022
About this deal
AI
A multifamily property located at 481 Putnam Ave. in Bedford-Stuyvesant has been sold for $1,000,000. The property consists of 2 units with a total square footage of 3,600. The price per unit is $500,000 and the price per square foot is $277. The sale was completed on 03/30/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Address: 481 Putnam Ave.
- Market: Bedford-Stuyvesant
- Units: 2
- Square Footage: 3,600
The buyer, Pristine Developers represented by Kia Moosazadeh, Sam Rosh, and Ashkan Yashar, acquired the property from the seller, Guess Family. Pristine Developers is actively seeking to acquire properties of any asset class in any condition or occupancy status, with a focus on quick and easy closings.
For inquiries and opportunities, please contact Pristine Developers at [email protected].
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93