Updated Dec 21, 2023
Collin Hernandez Acquires Warehouse In Williamsburg, Brooklyn For $5.4M
1109 Metropolitan Avenue, Brooklyn, New York 11211, United States
$5,417,550
$729/SF
Building Size
7,425 SF
Asset Type
Industrial
Closing
Dec 5, 2021
About this deal
AI
A warehouse located at 1109 Metropolitan Avenue, Williamsburg, Brooklyn, was recently sold in a closed transaction. The property is zoned as M3-1 and has a total building size of 22,490 square feet with a price per square foot of $241. The total lot size is 11,245 square feet, with dimensions of 138.83 feet by 61.25 feet. The buyer, Collin Hernandez, purchased the property from the seller, Paul Lindahl, for a total price of $5,417,550. The sale took place on December 6, 2021. The previous sale of the property occurred on June 30, 2014, with a price of $1,550,000.
Summary of transaction details
- Property Type: Warehouse
- Transaction Amount: $5,417,550
- Market: Williamsburg, Brooklyn
- Zoning: M3-1
- Buyer: Collin Hernandez
- Seller: Paul Lindahl
- Building Size: 22,490 square feet
- Price per Square Foot: $241
- Lot Size: 11,245 square feet
- Last Sale Price: $1,550,000 (June 30, 2014)
- Lot Dimensions: 138.83 ft x 61.25 ft
- Sale Date: December 6, 2021
Collin Hernandez acted as the buyer in this transaction, while Paul Lindahl served as the seller. The property's tax class is 4, with a floor area ratio (FAR) of 0.66. This sale represents a significant investment opportunity in the Williamsburg, Brooklyn market.
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.93%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93