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Adam J. Semler Acquires Multifamily Property At 141 Broadway In Williamsburg, Brooklyn For $4.23M

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SOLD
$4,230,000

New York

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MultiFamily5,199 SF
Sold 05/27/2022
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Property Image
SOLD

Adam J. Semler Acquires Multifamily Property At 141 Broadway In Williamsburg, Brooklyn For $4.23M

141 Broadway, Brooklyn, New York 11211, United States

See Similar Deals
MultiFamily5,199 SF
Sold 05/27/2022
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$813
Total Square Footage:5,199 SF
Transaction Type:Sale

Located at 141 Broadway in Williamsburg, Brooklyn, this recently closed multifamily property transaction offers an opportunity for lucrative investment. The property, with a total square footage of 5,199, was sold for a price of $4,230,000. This translates to a price per square foot of $813. The property's buildable square footage (BSF) stands at 5,389, with a price per buildable square foot (PPBSF) of $784. The lot size spans 1,585 square feet and has dimensions of 20 feet by 79.25 feet.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $4,230,000
  • Market: Williamsburg, Brooklyn
  • Zoning: C4-3
  • Buyer: Adam J. Semler
  • Seller: Dorene Goldfinger
  • Tax Class: 2A
  • FAR: 3.28
  • Permits: Alteration 2 (05/11/2012)

In this transaction, Adam J. Semler emerged as the buyer, while Dorene Goldfinger was the seller. The deal was finalized on 05/27/2022. With a FAR of 3.28, this property offers significant development potential. The tax class for this asset is 2A, indicating its classification for multifamily residential use. Additionally, the property had received an alteration permit on 05/11/2012, enabling modifications to the building.

Players

11 deals$51.2M volume
BUYER

Details

SOLD
IMAGE: 05/27/2022 ADDRESS: 141 Broadway MARKET: Williamsburg, Brooklyn ASSET TYPE: Multifamily ~ ZONING: C4-3 BUYER: Adam J. Semler SELLER: Dorene Goldfinger PRICE: $4,230,000 BSF: 5,389 ~ PPBSF: $784 SF: 5,199 ~ PPSF: $813 FAR: 3.28 TAX CLASS: 2A LOT SIZE: 1,585 PERMITS: Alteration 2 (05/11/2012) LOT DIMENSION: 20 ft x 79.25 ft

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$225,600.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,028.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,052.36
Annual Debt Service$240,628.30