42-44 Meserole Street is a 7,348 square foot residential building with 12 apartment units, located between Union Avenue and Lorimer Street.  42-44 Meserole Street was purchased for $4.9 million, and was delivered completely vacant. This allowed for a quick and effective re-positioning of the units . The building was then fully leased and sold for $8.5 million. 

Deal Facts

Purchase Price: $4.9 million

Cost of Renovation: $90,000

Sale Price: $8.5 million

In 2013, BIG purchased a mixed-use property (5 residential units and 1 retail unit) located one block away from the Graham Avenue L train station for $1.8 Million. BIG changed the use of the ground floor residential unit into a retail space and restructured the layouts from inefficient 1 bedroom units into front and back 2 bedroom units.

Deal Facts

     Purchase Price: $1.8 million

    Cost of Renovations: $550,000

Current Market Value: $4.5 million

Return on Investors' Initial Equity: 84%

657 Knickerbocker Avenue, Brooklyn

657 Knickerbocker Avenue is a 6,500 square foot residential building with 8 apartment units located on the corner of Knickerbocker Avenue and Putnam Avenue. At purchase, the asset had 212 violations and was delivered with 2 vacant units, allowing for seamless renovations. BIG transformed the building's railroad apartments into space-optimized units, significantly increasing the building's value.

Deal Facts

     Purchase Price: $742,000

    Cost of Renovations: $500,000

Current Market Value: $3.0 million

Return on Investors' Initial Equity: 70%

56-48, 54 Avenue is a 16,750 square foot mixed use building with 8 apartment units and 4 retail units, located between Cypress Avenue and Seneca Avenue.  56-48, 54 Myrtle Avenue was purchased for $6.75 million, and was delivered with fully occupied retail units and 1 occupied residential unit. 56-54 Myrtle Avenue was renovated for $250,000 and fully leased in late 2015. 56-48, 56-50 and 56-52 have an expected construction start date of March 2018 and will take approximately 6 months to complete.

Deal Facts

Purchase Price: $6.75 million

Expected Cost of Renovation: $1.75 million

Expected Market Value After Renovations: $14.5 million

935 Metropolitan Avenue is a 4,125 square foot residential building with 6 apartment units, located between Bushwick Avenue and Morgan Avenue.  935 Metropolitan Avenue was purchased for slightly over $1.6 million, and was delivered fully occupied. 5 of 6 tenants were bought out and the building underwent a gut renovation. 

Deal Facts

Purchase Price: $1.664 million

Cost of Renovation: $458,000

Current Market Value: $3.76 million

296 Schaefer Avenue is a 5,000 square foot residential building with 6 apartment units, located between Irving Avenue and Knickerbocker Avenue.  296 Schaefer Street was purchased for slightly over $1.5 million, but was delivered with 5 vacant units, allowing for an ideal renovation process. The building is currently undergoing a gut renovation, with the additions of a furnished courtyard and patio. 

Deal Facts

Purchase Price: $1.6 million

Cost of Renovation: $548,000

Current Market Value: $3.2 million

907 Jefferson Avenue is a 3,225 square foot residential building with 3 apartment units, located between Ralph Avenue and Howard Avenue.  907 Jefferson Avenue was purchased for $1.175 million, and was delivered vacant. The building underwent a gut renovation and finished in December of 2017.

Deal Facts

Purchase Price: $1.175 million

Cost of Renovation: $395,000

Current Market Value: $2.3 million