Benedict Realty Group Acquires Multifamily Asset In Bedford-Stuyvesant For $3.7M

A multifamily property located at 550 Throop Avenue in Bedford-Stuyvesant has been sold for a price of $3,700,000. The property has a building square footage of 11,000 and a price per building square foot of $336. The total square footage is 17,985, with a price per square foot of $205. The property consists of 20 units, with a price per unit of $185,000. The lot size is 5,500 square feet, with dimensions of 55 ft x 100 ft. The property is zoned as R6B and falls under tax class 2. The previous sale of the property took place on July 29, 2011, for a price of $1,650,000. A permit for alteration was issued on May 17, 2012.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,700,000
• Market: Bedford-Stuyvesant
• Zoning: R6B

The buyer of the property was Benedict Realty Group, and the seller was Mann Group. The transaction was facilitated by Maria D'Angelo, DJ Johnston, Ben Rechler & William Cheng from B6 Real Estate Advisors.