Deal Review
185 Bainbridge
Bed-Stuy is a distinguished two-family property located in the heart of Stuyvesant Heights. Since 2020, it has undergone an extensive gut renovation, with approximately $100,000 remaining in renovation costs at the time of our note purchase. The property owner initially filed for Chapter 11 bankruptcy, but we successfully converted it to Chapter 7 following a review by the U.S. Trustee. This conversion enabled us to efficiently and promptly secure payment on the asset, streamlining the resolution process.
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$925,000
Note Purchase Price
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$1,750,000
Assumed Debt
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89.19%
ROI
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198.19%
IRR
Property Photos
Renovation
Right off trendy Malcolm X Boulevard, our property in Bed-Stuy is a meticulously renovated two-family townhouse that blends modern luxury with classic charm. Spanning an impressive 2,220 sq ft, this home offers a spacious duplex unit with 1,440 sq ft, three bedrooms, 1.5 bathrooms, and access to private outdoor spaces. The second unit, a 1,044 sq ft apartment, features one bedroom, one bathroom, and generates rental income of $3,500+ per month, making it an ideal investment opportunity.
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