Empire State Realty Trust Acquires Mixed-Use Property In Williamsburg, Brooklyn For $26.4M
157 Wythe Avenue & 161 Wythe Avenue
$26,400,000
$1,190/SF
Building Size
11,084 SF
Asset Type
Mixed-use
Closing
Sep 14, 2023
About this deal
AI
The mixed-use property located at 157-161 Wythe Avenue in Williamsburg, Brooklyn has been sold. The deal was brokered by Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, Winfield Clifford, and Connor McCullough of JLL on behalf of the seller, The . The buyer of the property is Empire State Realty Trust (ESRT).
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $26,400,000
- Address: 157-161 Wythe Avenue, Williamsburg, Brooklyn
- Square Footage: 11,084 SF
- Price per Square Foot: $2,382
- Seller: The
- Seller's Representative: Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, Winfield Clifford, and Connor McCullough - JLL
- Buyer: Empire State Realty Trust (ESRT)
The transaction of this property involved notable brokers from JLL, including Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, Winfield Clifford, and Connor McCullough. The buyer, Empire State Realty Trust (ESRT), successfully acquired this mixed-use property located at 157-161 Wythe Avenue in Williamsburg, Brooklyn.
On the Map
$26,400,000
$1,190/SF
Mixed-use
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Players
Williamsburg Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93