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254 N 9th St, Brooklyn, NY ...

David Kramer Acquires Development Site In Williamsburg For $12.2M
SOLDDevelopment Site

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

Chris Varjan

Lee & Associates

Broker

$469.3M

vol

29 deals

Broker

David Kramer

Buyer

$678.8M

vol

11 deals

Buyer

Joel Schwartz

Seller

$450.9M

vol

43 deals

Seller

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