Updated Mar 4, 2026
Westwood Realty Associates Sells Industrial Property In Williamsburg, Brooklyn For $4.9M
16-34 Norman Ave, Brooklyn, NY, USA
$4,925,000
$591/SF
Building Size
8,326 SF
Asset Type
Industrial
Closing
Sep 9, 2021
About this deal
AI
The industrial property located at 16-34 Norman Ave. in Williamsburg was recently sold for $4,925,000. The transaction took place on 09/09/2021. The property spans 8,326 square feet, resulting in a price per square foot of $591. The lot measures 200 feet by 41.42 feet and is zoned as M1-1.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,925,000
- Address: 16-34 Norman Ave.
- Market: Williamsburg
- Zoning: M1-1
- Square Footage: 8,326
- Price per Square Foot: $591
- Lot Size: 200 ft x 41.42 ft
The seller of the property was Howard Kiffel, who represented 34 Norman Ave. in the transaction. The buyer's identity remains undisclosed. Steven Vegh, from Westwood Realty Associates, acted as the broker for this sale.
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Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.22%
Cash-on-Cash
-0.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93