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857 Park Place LLC Purchases Mixed-Use Property From Mieczyslaw Cielepak For $3.15M In Williamsburg
SOLD
$3,150,000
New York
See Similar DealsMixed-use4,695 SF
Sold 05/20/2026
SOLD
857 Park Place LLC Purchases Mixed-Use Property From Mieczyslaw Cielepak For $3.15M In Williamsburg
175 Richardson Street
See Similar DealsMixed-use4,695 SF
Sold 05/20/2026
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$670
Total Square Footage:4,695 SF
Transaction Type:Sale
Mieczyslaw Cielepak has sold a 4,695-square-foot mixed-use property located at 175 Richardson Street in Williamsburg, Brooklyn, to 857 Park Place LLC for $3,150,000. The transaction closed on May 20, 2026, at a valuation of $671 per square foot.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,150,000
- Address: 175 Richardson Street
- Market: Williamsburg, Brooklyn
- Square Footage: 4,695
- Price per Square Foot: $671
- Buyer: 857 Park Place LLC
- Seller: Mieczyslaw Cielepak
The transaction involved 857 Park Place LLC as the buyer, while Mieczyslaw Cielepak represented the seller in this deal. The purchase reflects the ongoing investment activity in the Williamsburg area, highlighting the demand for mixed-use properties in this market.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$168,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,191.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,932.61
Annual Debt Service$179,191.28
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