DAX Real Estate Sells Multifamily Property At 135 South 1st Street In Williamsburg For $4.35M

The property involved in this transaction is a multifamily asset located at 135 South 1st Street in Williamsburg, Brooklyn. It was sold for a total price of $4,350,000, comprising 4 units. The building has a total square footage of 3,436, resulting in a price per unit of $1,087,500 and a price per square foot of $1,266.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,350,000
• Units: 4
• Square Footage: 3,436
• Price Per Unit: $1,087,500
• Price Per Square Foot: $1,266
• Seller: DAX Real Estate
• Brokers: Shaun Riney & Michael Salvatico - Marcus & Millichap
• Cap Rate: ~ 5.75%
• Original Purchase Price: $2,250,000 in December 2021

Shaun Riney and Michael Salvatico from Marcus & Millichap represented the seller in this transaction. The purchaser sought a turn-key product in the Williamsburg area after selling an unrenovated property through NYM Group. Brokers are available for consultations to create win-win solutions for clients interested in value-add properties or cash flow exchanges.