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 four-story brick building, that is 9,200 square feet. 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 percent capitalization rate, with four vacant units and four rent-stabilized units, allowing for immediate upside. This is yet another example of our aggressive appetite in acquiring well-trafficked and unique properties throughout New York City.
This transaction was negotiated by Hirshmark’s Michael Fuller.
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