SOLD
Sam Kooris And Alex Horn Of Alchemy Ventures Acquire Bed-Stuy Multifamily Portfolio For $24.6M
879 Dekalb Avenue, 419-421 Marcus Garvey Boulevard, 654 Putnam Avenue, 319 Malcolm X Boulevard, 829 Halsey Street, 804 Macon Street, 808 Macon Street, 814 Macon Street (Bed-Stuy 9 Building Portfolio)
MultiFamily
60,000 SF
60,000 SF
Summary
Sale
NEW YORK
MultiFamily
60,000 sqft
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.
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SOLD
IMAGE: Sam Kooris and DJ Johnston @thejohnstonteam_b6realestate
DATE: 12/06/2018
ADDRESSES: 879 Dekalb Ave, 419-421 Marcus Garvey Blvd, 654 Putnam Ave, 319 Malcolm X Blvd, 829 Halsey St, 804 Macon St, 808 Macon St, 814 Macon St (Bed-Stuy 9 Building Portfolio)
MARKET: Bedford-Stuyvesant, Brooklyn
ASSET TYPE: Multifamily
SELLER: Matthew Wright and David Bowen - IWC Capital
BUYER: Sam Kooris and Alex Horn - Alchemy Ventures
BROKER: DJ Johnston @b6realestate @thejohnstonteam_b6realestate
SALE PRICE: $24,625,000
SF: 60,000 ~ PPSF: $410
NOTES: This portfolio sale consisted of 9 buildings, totaling 81 units, across 60,000 SF. The package was roughly 50% RS, with the remainder of the units being FM or vacant. The sale equates to $300,000 per unit and $410 per SF.View on map
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Address879 Dekalb Avenue, 419-421 Marcus Garvey Boulevard, 654 Putnam Avenue, 319 Malcolm X Boulevard, 829 Halsey Street, 804 Macon Street, 808 Macon Street, 814 Macon Street (Bed-Stuy 9 Building Portfolio)
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