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%
Expected ROI
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198.19%
Expected IRR
Property Photos
Renovation
Right off trendy Malcolm X Boulevard, 185 Bainbridge Street is a meticulously renovated two-family townhouse that blends modern luxury with classic charm. Spanning an impressive 3,200 sq ft, this home offers 4 spacious bedrooms, 3.5 bathrooms and 3 STUNNING outdoor spaces! Additionally, with a rental income of $3500+ per month from the top-floor 2 bedroom unit, the rental income offers an excellent opportunity to offset your mortgage and enhance the investment potential of this finely crafted home.
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