Daniel Knoll Acquires Mixed Use Property In East Williamsburg For $2.4M

An East Williamsburg mixed-use property located at 488 Metropolitan Avenue has been sold for $2,400,000. The property spans 2,100 square feet and has a building square footage of 3,520. With a price per square foot of $1,143 and a price per building square foot of $681, the property offers potential for a diverse range of uses. The transaction represents a 6.22% cap rate and includes three units.

Summary of transaction details

• Property Type: Mixed Use
• Transaction Amount: $2,400,000
• Street Address: 488 Metropolitan Avenue
• Market: East Williamsburg
• Total Square Footage: 2,100
• Building Square Footage: 3,520
• Price per Square Foot: $1,143
• Price per Building Square Foot: $681
• Units: 3
• Cap Rate: 6.22%

The buyer of the property is Daniel Knoll, and the seller is David Shorenstein. The transaction was facilitated by Shaun Riney and Mike Salvatico from New York Multifamily.