Updated Dec 19, 2023
Marcus & Millichap Sells Williamsburg Multifamily For $9.6M With Shaun Riney, Michael Salvatico & Sam Leppo
155 South 2nd Street, Brooklyn, New York 11211, United States
$9,600,000
$535/SF
Building Size
17,916 SF
Asset Type
MultiFamily
Closing
May 12, 2022
About this deal
AI
The multifamily property located at 155 S. 2nd St. in Williamsburg has been sold for $9,600,000. The property spans 17,916 square feet, resulting in a price per square foot of $535. It is important to note that the property is partially rent regulated.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,600,000
- Address: 155 S. 2nd St.
- Market: Williamsburg
- BROKERS: Shaun Riney, Michael Salvatico, and Sam Leppo - Marcus & Millichap
The deal was facilitated by Shaun Riney, Michael Salvatico, and Sam Leppo from Marcus & Millichap. In December 2021, a neighboring fully rent stabilized 22-unit building was also sold by NYM.
Players
New York 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
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93