Matheos Realty Group closes two properties in Bedford Stuyvesant for $2.365 million

 

 

Brooklyn, NY Matheos Realty Group negotiated the closing of two 3-unit properties in the Bedford Stuyvesant neighborhood. The combined sale price totaled $2.365 million.

The first property, located at 120 Ralph Ave., sold for $1.2 million, which equates to $461 per s/f. Delivered fully occupied, the sale reflects a 7% capitalization rate, offering solid investment fundamentals and stable income for the buyer.

The second property, located at 2001 Fulton St., sold for $1.165 million, or $388,333 per unit, translating to $388 per s/f. The property was delivered vacant at closing and requires gut renovation, presenting the buyer with a prime value-add opportunity in a rapidly evolving submarket.

“These sales demonstrate our continued success in navigating the Brooklyn multifamily/mixed use market and delivering results that meet a range of investor objectives — whether stabilized income properties or value-add opportunities,” said Isaiah Thomas, director at Matheos Realty Group. “We are proud to have facilitated these successful transactions and look forward to continuing to serve both buyers and sellers with integrity and expertise.”