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101 South 6th Street

Marcus & Millichap Brokers Shaun Riney, Michael Salvatico, And Samuel Leppo Acquire Vacant Multifamily Property In Williamsburg, Brooklyn For $13.8M
SOLDMultiFamily

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

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

Michael Salvatico

Marcus & Millichap

Broker

$787M

vol

173 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

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