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Bed-Stuy Defaulted Note, New Construction for Sale

BEDFORD-STUYVESANT — Eastern Consolidated reports that the “senior secured interest” in a newly-constructed 20,549-square-foot, 19-unit rental apartment building in Bedford-Stuyvesant is available for sale.

The property itself, at 808-810 Myrtle Ave., is also available for sale, according to David Schechtman, Esq., principal and executive managing director, who is handling the defaulted note and building sale along  with Marion T. Jones and Gary Meese, directors at Eastern.

 There is no asking price listed for the six-story elevator building — with all one-bedroom apartments — which also includes a 5,000-square-foot medical facility and 10 first-floor partially covered parking spaces.  

“Acquiring the senior first mortgage position on this property would give an investor a sound foothold in a brand new boutique residential development in a burgeoning Brooklyn enclave,” said Schechtman.

Added Jones,“The building is significantly leased and income producing, and benefits from a 25-year 421-A tax exemption.”

March 8, 2012 - 4:20pm


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