Updated Dec 4, 2024
Marcus & Millichap Sells Eight-Unit Multifamily Building At 923 Bedford Avenue For $3.35M
923 Bedford Avenue
$3,350,000
Units
8
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
A four-story, eight-unit multifamily apartment building was sold for $3,350,000 at 923 Bedford Avenue in the Bedford-Stuyvesant neighborhood of Brooklyn. The price per unit amounted to $418,750, reflecting the building's configuration and market conditions.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,350,000
- Units: 8
- Price Per Unit: $418,750
- Address: 923 Bedford Avenue
- Market: Bedford-Stuyvesant, Brooklyn
Daniel Greenblatt and Shaun Riney from Marcus & Millichap facilitated the transaction, representing the interests of the parties involved in the sale of the property.
Players
Brooklyn 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
4.74%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93