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
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