The Ben-Josef Group Acquires Multifamily Property In Bedford Stuyvesant For $22.48M

A multifamily property located at 691 Marcy Avenue in Bedford Stuyvesant, Brooklyn was recently sold for $22,480,000. The property consists of 41 units with an average price per unit of $548,293. The total square footage of the property is 33,008, resulting in a price per square foot of $681. The cap rate for the transaction is 4.75%. The sale took place on 12/11/2020.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $22,480,000
• Address: 691 Marcy Avenue
• Market: Bedford Stuyvesant, Brooklyn

The buyer for this transaction was The Ben-Josef Group, while the seller was Brookland Capital - Ronel Ben-Dov. The deal was facilitated by brokers Yoav Oelsner and Glenn Tolchin from Upland Property Advisors NYC.