Mendel Gold's 223-1040 Group LLC Acquires Mixed-Use Building On South 2nd Street In Williamsburg For $1.65M
384 South 2nd Street
$1,600,000
$666/SF
Building Size
2,400 SF
Asset Type
Mixed-use
Closing
Sep 21, 2023
AI
A mixed-use building located at 384 South 2nd Street in Williamsburg, Brooklyn has been sold for $1.6 million. The two-unit property was acquired by Mendel Gold's 223-1040 Group LLC from Skylight Real Estate Partners' Broadway Williamsburg Four LLC.
Summary of transaction details
- Property Type: Mixed-use
- Sale Price: $1,650,000
- Square Footage: 2,400 SF
- Price per Square Foot: $688
- Address: 384 South 2nd Street, Williamsburg, Brooklyn
Mendel Gold's 223-1040 Group LLC completed the purchase of the mixed-use building, which consists of two units. The transaction involved Skylight Real Estate Partners' Broadway Williamsburg Four LLC selling the property to Mendel Gold. The deal highlights the ongoing real estate activity in Williamsburg, Brooklyn.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93