Updated Mar 11, 2025
Cheskie Weisz Acquires Williamsburg Development Site For $16.5M
280 Meeker Ave, Williamsburg, Brooklyn, NY, USA
$16,500,000
$338/SF
Building Size
48,805 SF
Asset Type
Development Site
Closing
Mar 25, 2020
About this deal
AI
A development site located at 280 Meeker Ave. and 644-646 Lorimer St. in Williamsburg has been sold for $16,500,000. The property, with a total square footage of 48,805, was sold by Justin Palmer to Cheskie Weisz. The asking price for the site was $16,800,000, and the price per square foot was approximately $338. The transaction took place on March 26, 2020. Brokers Josh Lipton and Andrew Levine from Invictus Property Advisors represented the buyer and seller in the deal.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $16,500,000
- Address: 280 Meeker Ave. & 644-646 Lorimer St.
- Market: Williamsburg
- Total Square Footage: 48,805
- Asking Price: $16,800,000
- Price Per Square Foot: $338
Andrew Levine and Josh Lipton were the brokers from Invictus Property Advisors who represented Cheskie Weisz in the purchase of the development site in Williamsburg. They facilitated the successful transaction between the buyer and seller, Justin Palmer. Their expertise and negotiation skills played a crucial role in the deal.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Josh Lipton 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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93