Marcus & Millichap Brokers Shaun Riney, Michael Salvatico, And Samuel Leppo Acquire Vacant Multifamily Property In Williamsburg, Brooklyn For $13.8M
101 South 6th Street & 109 South 6th Street
$13,800,000
$289/SF
Building Size
47,626 SF
Asset Type
MultiFamily
Closing
Jan 26, 2024
AI
The multifamily property located at 101-109 South 6th Street in Williamsburg, Brooklyn has been sold for a price of $13,800,000. The property spans across 23,813 square feet, resulting in a price per square foot of $580.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,800,000
- Address: 101-109 South 6th Street, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- Brokers: Shaun Riney, Michael Salvatico, and Samuel Leppo - Marcus & Millichap
- Date: 01/26/2024
Delivered vacant, this former opera house serves as an excellent development opportunity. For similar creative acquisitions, interested parties are encouraged to get in touch with the deal team. Additionally, the deal team at Marcus & Millichap is currently marketing a condo tower with approved plans on the Greenpoint Waterfront and a 365,000 buildable square feet site in Downtown Brooklyn, both offering promising development prospects. For more information, contact Shaun Riney at 718-475-4369 or Mike Salvatico at 718-475-4358.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.15%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93