Joel Schwartz Acquires Mixed-Use Property In Williamsburg, Brooklyn For $13.75M

A mixed-use property located at 121 & 123 Grand Street and 228 Berry Street in Williamsburg, Brooklyn has been sold in a closed transaction. The property is zoned as M1-2/R6A and MX-8 and has a floor area ratio (FAR) of 0.52. The property spans a lot size of 5,058 square feet and features a total square footage (SF) of 9,606. The previous sale of the property took place on December 10, 2018, at a price of $13,160,000.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $13,750,000
• Building Square Feet (BSF): 30,213
• Price per Building Square Foot (PPSF): $455
• Total Square Feet (SF): 9,606
• Price per Square Foot (PPSF): $1,431
• Tax Class: 4

The buyer of the property is Joel Schwartz, while the seller is Isaac Dahan. The transaction closed on November 15, 2021. The property's significant features include its mixed-use designation, the price per building square foot (PPSF) of $455, and the price per square foot (PPSF) of $1,431. The sale price of $13,750,000 represents an increase from the previous sale price of $13,160,000, indicating a profitable transaction.