Joel Teitelbaum Acquires Mixed-Use Property At 209 Havemeyer Street For $28.5M
209 Havemeyer Street
$28,500,000
$218/SF
Building Size
130,417 SF
Asset Type
Condo
Closing
Aug 24, 2026
About this deal
AI
The property asset involved in the transaction is a mixed-use building located at 209 Havemeyer Street, in the Williamsburg neighborhood of Brooklyn. The sale was finalized at a price of $28,500,000, with a total square footage of 130,417, resulting in a price per square foot of $219.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $28,500,000
- Address: 209 Havemeyer Street
- Market: Williamsburg, Brooklyn
- Square Footage: 130,417
- Price Per Square Foot: $219
- Buyer: Joel Teitelbaum
- Seller: Matt Matsumoto - Diamond Realty Investments
Joel Teitelbaum, in collaboration with Shimon Brach, acquired the office and retail condominium units from Mitsubishi Corporation’s Diamond Realty Investments. The transaction highlights the involvement of established entities in the real estate market and indicates strategic investment decisions in an evolving area.
On the Map
$28,500,000
$218/SF
Condo
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Players
Brooklyn Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $218 per square foot on a published $28.5M for 130,417 square feet (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93