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DJL Family Properties Acquires Mixed-use Property In Williamsburg, Brooklyn For $7.5M

Property Image
SOLD
$7,500,000

New York

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Mixed-use25,000 SF
Sold 08/02/2020
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Property Image
SOLD

DJL Family Properties Acquires Mixed-use Property In Williamsburg, Brooklyn For $7.5M

135 Kent Avenue, Brooklyn, NY 11249

See Similar Deals
Mixed-use25,000 SF
Sold 08/02/2020
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$300
Total Square Footage:25,000 SF
Transaction Type:Sale

The mixed-use property located at 135 Kent Avenue in Williamsburg, Brooklyn has been sold in a recent transaction. The sale took place on 08/02/2021, with DJL Family Properties, represented by Michael Wieitzman, purchasing the property from seller Raul Sillau. The property was listed by Brendan Maddigan, Ethan Stanton, and Stephen Rutman from JLL. The sale price for the property was $7,500,000, with a total square footage of 25,000. This translates to a price per square foot of $300.

Summary of Transaction Details:

  • Property Type: Mixed-use
  • Transaction Amount: $7,500,000
  • Address: 135 Kent Avenue, Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn
  • Buyer: DJL Family Properties - Michael Wieitzman
  • Seller: Raul Sillau
  • Brokers: Brendan Maddigan, Ethan Stanton, and Stephen Rutman @JLL
  • Square Footage: 25,000
  • Price per Square Foot: $300

The deal involved key individuals and companies such as buyer Michael Wieitzman representing DJL Family Properties, seller Raul Sillau, and brokers Brendan Maddigan, Ethan Stanton, and Stephen Rutman from JLL. The transaction highlights the continued interest in the mixed-use property market in Williamsburg, Brooklyn.

Players

Brendan Maddigan
125 deals$4.7B volume(508) 733-8445
BROKER

Ethan Stanton
JLL
134 deals$6.2B volume(516) 790-7718
BROKER

Steven Rutman
JLL
66 deals$8.8B volume
BROKER

The Corcoran Group
BROKERAGE

Details

SOLD
IMAGE: Stephen Rutman, Brendan Maddigan & Ethan Stanton DATE: 08/02/2021 ADDRESS: 135 Kent Avenue MARKET: Williamsburg, Brooklyn ASSET TYPE: Mixed-use BUYER: DJL Family Properties - Michael Wieitzman SELLER: Raul Sillau BROKERS: Brendan Maddigan (@BrendanMaddigan), Ethan Stanton & Stephen Rutman @JLL SALE PRICE: $7,500,000 SF: 25,000 ~ PPSF: $300

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$400,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92