Hoagy Chen Of Golden Fountain Realty Inc Purchases Mixed-use Properties In Williamsburg For $5.8M
221 Havemeyer Street & 219 Havemeyer Street
$5,800,000
$659/SF
Building Size
4,400 SF
Asset Type
Mixed-use
Closing
Mar 4, 2026
About this deal
AI
This transaction involved two mixed-use buildings located at 221 Havemeyer Street and 219 Havemeyer Street in Williamsburg, Brooklyn. The properties together total 4,400 square feet, with a sale price of $5,800,000 and a purchase price per square foot of $1,318. Additionally, there are 2,408 square feet of air rights associated with the properties, which closed on March 4, 2026.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,800,000
- Buyer: Hoagy Chen
- Buyer's Agency: Golden Fountain Realty Inc
- Seller: Israel Elbogen & Mordechai Getz
- Square Footage: 4,400
- Price per Square Foot: $1,318
- Additional Air Rights: 2,408 sq ft
- Closing Date: March 4, 2026
Hoagy Chen represented Golden Fountain Realty Inc. in this transaction, purchasing the properties from sellers Israel Elbogen and Mordechai Getz. The representation highlights the involvement of these individuals and the agency facilitating the deal.
Brooklyn 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
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93