906 Broadway LLC pays $6M to Hector Cordero for property in Bedford-Stuyvesant

906 Broadway LLC paid Hector Cordero’s Ram Realty Corp. $5.5 million for 906 Broadway in Bedford-Stuyvesant. The deal closed on July 15, 2019, and was recorded on September 23, 2019. The transaction consists of 1 parcel, including the tax class two-story or store and office (K2). The property is 17,883 square feet. The parcel(s) have total development potential of 17,883 square feet.
The average sale price per square foot is $428.
The estimated cap rate is 1.6%

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $548,499. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $297,350.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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