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159 South 2nd Street, Brook...

Adam J Semler Acquires Multifamily Property On South 2 Street In Williamsburg, Brooklyn
SOLDMultiFamily

Adam J Semler Acquires Multifamily Property On South 2 Street In Williamsburg, Brooklyn

159 South 2nd Street, Brooklyn, New York 11211, United States

$6,600,000

$404/SF

Building Size

16,312 SF

Asset Type

MultiFamily

Closing

Dec 26, 2021

AI

The property at 159 South 2 Street in Williamsburg, Brooklyn, has been sold in a recent transaction. The multifamily property, zoned as R6, was purchased by Adam J Semler from Michael Vaglica. The sale took place on December 27, 2021, for a total price of $6,600,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,600,000
  • Address: 159 South 2 Street, Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn
  • Zoning: R6
  • Buyer: Adam J Semler
  • Seller: Michael Vaglica

The property has a building square footage (BSF) of 9,112, with a price per BSF (PPBSF) of $724. The total square footage (SF) of the property is 16,312, with a price per square foot (PPSF) of $404. The property has a floor area ratio (FAR) of 4.35 and falls under tax class 2.

Additional details about the property include a lot size of 3,750 and a lot dimension of 37.5 ft x 100 ft. A permit for alteration 2 was issued on February 22, 2011.

Players

Adam Selmer

Firebird Grove

Buyer

$51.2M

vol

11 deals

Buyer

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

2.40%

Cash-on-Cash

-0.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93