This portfolio sale consisted of 9 buildings located at 879 Dekalb Ave, 419-421 Marcus Garvey Blvd, 654 Putnam Ave, 319 Malcolm X Blvd, 829 Halsey St, 804 Macon St, 808 Macon St, and 814 Macon St in Bedford-Stuyvesant, Brooklyn. The multifamily assets totaled 60,000 square feet and included a mix of rent-stabilized, free market, and vacant units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $24,625,000
• Market: Bedford-Stuyvesant, Brooklyn

The sellers of the portfolio were Matthew Wright and David Bowen, represented by IWC Capital. The buyers, Sam Kooris and Alex Horn of Alchemy Ventures, acquired the properties. The deal was facilitated by DJ Johnston of B6 Real Estate, who represented the buyers as their broker.

The sale price of $24,625,000 translates to approximately $300,000 per unit. The price per square foot comes out to $410, based on the total square footage of 60,000. It is worth noting that around 50% of the units in the portfolio were rent-stabilized, while the remainder consisted of free market units or vacant spaces.