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A blog for breaking sales and neighborhood real estate news.

A multifamily building at 940 Kent Avenue, located between Willoughby and Dekalb Avenues in Brooklyn’s Bedford-Stuyvesant neighborhood, was sold in an all-cash transaction valued at $1,325,000.

The four-story, walk-up building contains approximately 6,872 square feet and sits on a 25’ x 91’ lot.  It consists of eight two-bedroom units.  The building is efficient and profitable as is, and has definite financial upside for the future, making it an ideal opportunity for an investor.  The sale price equates to approximately $193 per square foot.

This property is well positioned in prime northwest Bedford Stuyvesant just a few blocks from the Clinton Hill and Williamsburg borders.  Pratt Institute is two blocks away as is the G train at Classon Avenue which provides convenient access to downtown Brooklyn and Williamsburg.  Additionally, its location between the Myrtle Avenue and Dekalb Avenue retail corridors offers tenants close proximity to grocery stores, dry cleaners, restaurants, and nightlife.  

“The competitive nature of this offering, which sold north of asking price, is testament to the continued depth in the market for walk-up apartment buildings in Bedford-Stuyvesant,” said Massey Knakal Director of Sales Mike Amirkhanian, who exclusively handled this transaction.

Click here for press release

Neighborhoods: Bedford Stuyvesant