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110 South 2nd Street

Mendel Gold Acquires Multifamily Portfolio In Williamsburg, Brooklyn For $10.75M
SOLDMultiFamily

Mendel Gold Acquires Multifamily Portfolio In Williamsburg, Brooklyn For $10.75M

110 South 2nd Street, 384 South 2nd Street, 211 Johnson Avenue & 461 Lorimer Street

$10,750,000

$151/SF

Building Size

71,108 SF

Asset Type

MultiFamily

Closing

Oct 27, 2023

AI

The multifamily property located at 110 & 384 South 2nd Street, 211 Johnson Avenue, and 461 Lorimer Street in Williamsburg, Brooklyn has been sold. The transaction took place on 10/27/2023.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $10,750,000
  • Units: 17
  • Price Per Unit: $632,353
  • Total Square Footage: 17,777
  • Price Per Square Foot: $605

Mendel Gold has acquired the property. The deal was facilitated by the team at Rosewood Realty Group, including brokers Aaron Jungreis, Alex Fuchs, Ben Khakshoor, and Eli Shayestehpour.

Players

Aaron Jungreis

Rosewood Realty Group

Broker

$4.3B

vol

205 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

1.48%

Cash-on-Cash

-0.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93