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Joel Wertzberger Of BridgeCity Capital Acquires Hotel In Williamsburg Brooklyn For $30M
SOLD
$30,000,000
New York
See Similar DealsHotel
Sold 01/21/2026
SOLD
Joel Wertzberger Of BridgeCity Capital Acquires Hotel In Williamsburg Brooklyn For $30M
159 Broadway
See Similar DealsHotel
Sold 01/21/2026
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Sale
A hotel located at 159 Broadway in Williamsburg, Brooklyn has been sold for a price of $30 million. The asset encompasses a total square footage of 112,041 square feet, resulting in a price per square foot of $268.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $30,000,000
- Address: 159 Broadway
- Market: Williamsburg, Brooklyn
- Square Footage: 112,041
- Price per Square Foot: $268
- Buyer: Joel Wertzberger - BridgeCity Capital
- Seller: David Speiser - Madison Realty Capital
- Closing Date: January 21, 2026
Joel Wertzberger, representing BridgeCity Capital, executed the acquisition of the hotel from David Speiser, who represented Madison Realty Capital in this transaction.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,600,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66
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