Marcus & Millichap Sells Mixed-Use Property In Williamsburg For $10.6M
233 South 1st Street, Brooklyn, NY 11211, USA
$10,600,000
$756/SF
Building Size
14,016 SF
Asset Type
Mixed-use
Closing
Nov 5, 2021
About this deal
AI
The mixed-use property located at 233 South 1st Street in Williamsburg has been sold for a total of $10,600,000. The property includes 8 units with an average price per unit of $1,325,000. The total square footage of the property is 14,016, resulting in a price per square foot of $756. The sale was completed on November 5, 2021.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $10,600,000
The seller of the property is The Solomon Family. The transaction was facilitated by Shaun Riney, Mike Salvatico, and Sam Leppo of Marcus & Millichap. They acted as the brokers representing the seller in the deal.
Players
New York 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
1.50%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93