Updated Dec 2, 2024
Wharton Properties Acquires Development Site In Williamsburg, Brooklyn For $20M
166 Berry Street, Williamsburg, Brooklyn, NY, USA
$20,000,000
$3,225/SF
Building Size
6,200 SF
Asset Type
Development Site
Closing
Nov 4, 2019
About this deal
AI
A development site located at 166 Berry Street in Williamsburg, Brooklyn has been sold for a price of $20,000,000. The property spans an area of 6,200 square feet, resulting in a price per square foot of $3,226. With a buildable square footage of 16,740, the price per buildable square foot stands at $1,195. The sale took place on November 5, 2019.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Address: 166 Berry Street, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- Street Frontage: 6,200 square feet
- Price per Square Foot: $3,226
- Buildable Square Footage: 16,740
- Price per Buildable Square Foot: $1,195
- Date of Transaction: November 5, 2019
The seller of the property was Avi Kendi, while the buyer was Eliot Tawil, representing Wharton Properties. The transaction was facilitated by Thomas A. Donovan and DJ Johnston of B6 Real Estate Advisors, who acted as the seller's representatives.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Thomas (Tom) Donovan to view all their deals.
Browse New York development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93