Updated Sep 9, 2024
Yisroel Greenfield Acquires Williamsburg Development Site For $59.4M
203-209 N 11th St, Williamsburg, Brooklyn, NY, USA
$59,367,840
$2,198/SF
Building Size
27,000 SF
Asset Type
Development Site
Closing
Jan 21, 2021
About this deal
AI
A ground lease transaction took place in Williamsburg, involving a development site located at 203-209 North 11th St. The ground lease has a term of 49 years. The deal closed on January 22, 2021.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $59,367,840
- Square Footage: 27,000
- Market: Williamsburg
Yisroel Greenfield acquired the ground lease from Omelan Berezowsky. The transaction was facilitated by broker Michael Sherman.
The development site sale at 203-209 N 11th St, Williamsburg, Brooklyn, NY, USA in New York, New York sold for $59.4M in 2021. The building is 27,000 square feet, implying about 2.2K per square foot on the published price. Michael Sherman, Baseline Real Estate Advisors appear on the sale alongside Baseline Real Estate Advisors. This page is the New York, New York file for the 203-209 N 11th St, Williamsburg, Brooklyn, NY, USA development site sold: pricing, party profiles, and other closed development site comps from the same New York sit in the Market section below. Filter that New York development site set by closing date to see what else sold near 203-209 N 11th St, Williamsburg, Brooklyn, NY, USA around 2021. Published consideration for 203-209 N 11th St, Williamsburg, Brooklyn, NY, USA is $59.4M, dated 2021. Cite this Yisroel Greenfield Acquires Williamsburg Development Site For $59.4M sale when underwriting similar development site product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93