NEW YORK—A portfolio of six multifamily buildings in Brooklyn’s Bedford–Stuyvesant neighborhood was sold in an all-cash transaction valued at $7.325 million. The buildings, which are all in or nearby the Stuyvesant Heights Historic District, are located at 654 Putnam Avenue, 419-21 Marcus Garvey Boulevard, 319 Malcolm X Boulevard and 804 and 814 Macon Street.
The portfolio includes one nine-unit building, four eight-unit buildings and one six-unit building totaling approximately 37,950 sq. ft.
In total, the portfolio is comprised of 47 apartments, 38 of which have been renovated to include new kitchens and bathrooms.
“At close to $200 PSF, this package of renovated buildings offered the scale required by a new wave of patient investors who were happy to pay a premium to gain exposure to this well positioned neighborhood,” said Massey Knakal Director of Sales Michael Amirkhanian who exclusively handled this transaction.
Massey Knakal’s Director of Sales Michael Amirkhanian exclusively handled the transaction.