Updated Dec 20, 2023
Joel Schwartz Acquires Development Site In Williamsburg, Brooklyn For $5M
168-170 North 10th Street, Williamsburg, Brooklyn, NY, USA
$5,000,000
$489/SF
Building Size
10,225 SF
Asset Type
Development Site
Closing
Nov 9, 2021
About this deal
AI
An development site located at 168-170 N. 10th Street in Williamsburg, Brooklyn, was recently sold for $5,000,000. The property spans approximately 10,225 square feet, with a price per buildable square foot (PPBSF) at $488. The transaction took place on 11/09/2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,000,000
- Address: 168-170 N. 10th Street, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- Buyer: Joel Schwartz
- Seller: Joanna Sidibe
- Broker: Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, and Winfield Clifford - JLL
- BSF: 10,225
- PPBSF: $488
The deal was facilitated by JLL, with Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, and Winfield Clifford representing the buyer and seller. This transaction marks a significant investment in the development site located in Williamsburg, Brooklyn.
Players
New York Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93