Joel Wertzberger Of BridgeCity Capital Acquires Hotel In Williamsburg Brooklyn For $30M
159 Broadway
$30,000,000
Building Size
—
Asset Type
Hotel
Closing
Jan 21, 2026
About this deal
AI
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.
On the Map
$30,000,000
Hotel
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Players
Brooklyn Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93