Updated Jul 23, 2026
Samuel Teitelbaum Acquires Development Site At 23 Wythe Avenue In Williamsburg For $16.5M
23 Wythe Avenue
$16,500,000
Building Size
—
Asset Type
Development Site
Closing
Jul 22, 2026
About this deal
AI
A development site located at 23 Wythe Avenue in Williamsburg, Brooklyn has been acquired for $16,500,000. The property spans a total area of 58,267 square feet, resulting in a price per square foot of $283.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $16,500,000
- Buyer: Samuel Teitelbaum
- Address: 23 Wythe Avenue
- Market: Williamsburg, Brooklyn
- Loan Amount: $15,500,000
- Lender: OakNorth Bank and Oak Funding
Samuel Teitelbaum, represented by 21 Wythe Ave LLC, was involved in this transaction, showcasing his investment activities in the Brooklyn market.
On the Map
$16,500,000
Development Site
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Players
Avenue 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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93