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181 North 6th Street

Tom Michaeli Acquires Development Site In Williamsburg, Brooklyn For $1.185M
SOLDDevelopment Site

Tom Michaeli Acquires Development Site In Williamsburg, Brooklyn For $1.185M

181 North 6th Street

$1,185,000

Building Size

Asset Type

Development Site

Closing

Nov 27, 2023

AI

A development site located at 181 North 6th Street in Williamsburg, Brooklyn has been sold in a transaction. The property, with a total square footage (BSF) of 2,300, was sold for a price of $1,185,000, resulting in a price per square foot (PPBSF) of $515.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,185,000
  • Address: 181 North 6th Street, Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn
  • Buyer: Tom Michaeli
  • Seller: Berish Wagschal
  • Brokers: Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura, and Sal Monteverde - Investment Property Realty Group (IPRG)

The transaction was facilitated by the broker representatives from Investment Property Realty Group (IPRG) including Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura, and Sal Monteverde. They played a crucial role in connecting the buyer, Tom Michaeli, with the seller, Berish Wagschal.

Players

Corey Haynes

Investment Property Realty Group (IPRG)

Broker

$228M

vol

62 deals

Broker

Brooklyn 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

13.39%

Cash-on-Cash

-3.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93