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
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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