Updated Sep 11, 2026
Oma Holloway Of New Era Revitalization Acquires MultiFamily Building In Bedford Stuyvesant For $56M
721 Willoughby Avenue
$56,000,000
Units
267
Asset Type
MultiFamily
Closing
Aug 19, 2026
About this deal
AI
A multi-family residential building located at 721 Willoughby Avenue in the Bedford Stuyvesant neighborhood of Brooklyn has been sold. The transaction involved a total price of $56,000,000 for the acquisition, which includes a 267-unit residential building and an adjacent lot.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $56,000,000
- Buyer: Oma Holloway - New Era Revitalization
- Seller: Goldman Sachs
This transaction represents the partnership between New Era Revitalization, led by Oma Holloway, and Goldman Sachs, showcasing their involvement in the real estate market in Brooklyn.
Players
Avenue 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93