Shape Capital Acquires Mixed-Use Building In Williamsburg, Brooklyn For $3.45M
51 Havemeyer St Brooklyn, NY 11211, USA
$3,450,000
$1,022/SF
Building Size
3,375 SF
Asset Type
Mixed-use
Closing
May 1, 2023
About this deal
AI
Development firm Shape Capital has acquired the mixed-use property located at 51 Havemeyer Street in Williamsburg, Brooklyn. The transaction, which took place on May 1, 2023, involved Shape Capital paying a total sale price of $3,450,000 to seller Yuk Leung Lok. The property features a total of 3,375 square feet of built space and an additional 4,123 square feet of air rights, resulting in a total buildable square footage of 7,497. The purchase price per buildable square foot amounts to $460, while the price per square foot of the existing space is $1,022.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $3,450,000
- Address: 51 Havemeyer Street
- Market: Williamsburg, Brooklyn
- Buyer: Shape Capital - Rawad Halloway
- Seller: Yuk Leung Lok
Shape Capital, represented by Rawad Halloway of the buying agency, successfully closed the deal for the redevelopment of 51 Havemeyer Street. The transaction marks an important acquisition for Shape Capital in the vibrant market of Williamsburg, Brooklyn.
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
4.60%
Cash-on-Cash
-1.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93