Bedford Stuyvesant Multifamily – Property Acquisition
Hirshmark Capital, through an affiliate entity, is proud to announce the purchase of a multifamily property in the Bedford Stuyvesant neighborhood of Brooklyn. 498 Putnam Avenue is a 4-story brick building, that is 9,200 SF. The property is a few blocks from Fulton Street and the A and C trains. Hirshmark purchased the asset, at a going in sub 3% capitalization rate, with 4 vacant units and 4 rent-stabilized units, allowing for immediate upside. This is yet another example of our aggressive appetite in acquiring well trafficked and unique commercial properties throughout NYC.