Updated Dec 20, 2023
Marcus & Millichap Sells 22-Unit Multifamily Property In Williamsburg, Brooklyn For $6.6M
159 South 2nd Street, Brooklyn, NY 11211
$6,600,000
$404/SF
Building Size
16,313 SF
Asset Type
MultiFamily
Closing
Dec 27, 2021
About this deal
AI
Located in Williamsburg, Brooklyn, this multifamily property at 159 South 2nd Street recently changed hands in a closed transaction. The property is zoned as R6 and offers a total of 22 units, comprising a total square footage of 16,313. The sale price for this asset was $6,600,000, resulting in a per unit price of $300,000. The price per square foot stands at $404.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,600,000
- Address: 159 South 2nd Street, Williamsburg, Brooklyn
- Zoning: R6
- Units: 22
- Total Square Footage: 16,313
- Price Per Unit: $300,000
- Price Per Square Foot: $404
The sale was facilitated by the brokerage firm Marcus & Millichap, with the following brokers representing the seller: Mike Salvatico, Shaun Riney, and Sam Leppo.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Samuel (Sam) Leppo to view all their deals.
Browse New York multifamily sales on Traded.
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