David Kramer Acquires Development Site In Williamsburg For $12.2M
254 N 9th St, Brooklyn, NY 11211, USA
Building Size
135,000 SF
Asset Type
Development Site
Closing
Apr 7, 2018
AI
A development site located at 1-7 Withers Street in Williamsburg has been sold for a total of $12,201,000. The property was sold on December 28, 2022. The transaction involved a buyer named David Kramer and a seller named Joel Schwartz.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $12,201,000
- Address: 1-7 Withers Street, Williamsburg
David Kramer acted as the buyer in this deal, representing himself. On the other hand, Joel Schwartz acted as the seller.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93