Nager Management pays $11.8M for 32-unit rental in Bedford-Stuyvesant

Nager Management through the entity Loki Realty, LLC paid Isaac Abraham’s 242-248 Bainbridge Partners LLC $11.8 million for 242 Bainbridge Street, 244 Bainbridge Street, 246 Bainbridge Street, and 248 Bainbridge Street in Bedford-Stuyvesant. The deal closed on February 3, 2021 and was recorded on February 11, 2021. The transaction consists of 4 parcels, including the tax class multifamily, over six families without stores (C1) and containing 32 residential units. The properties have a total of 29,200 square feet of built space. The parcel(s) have total development potential of 29,200 square feet.
The sale price per unit is $367,188..

The contract date was October 29, 2020. The last time the property sold was January 30, 2017 for $10,200,000.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

Direct link to Acris document. link
The signatory for the buyer or lender was Sanford Nager

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