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Twin Oaks Equity Partners Acquires Multifamily Asset From David Winter For $6.25M In Brooklyn

Property Image
SOLD
$6,250,000
Michael (Mike) Salvatico
Shaun Riney

New York

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MultiFamily17,934 SF
Sold 05/20/2025
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Property Image
SOLD

Twin Oaks Equity Partners Acquires Multifamily Asset From David Winter For $6.25M In Brooklyn

167 North 9th Street

See Similar Deals
MultiFamily17,934 SF
Sold 05/20/2025
Michael (Mike) Salvatico
Shaun Riney
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$348
Total Square Footage:17,934 SF
Transaction Type:Sale

The property asset involved in the transaction is a multifamily building located at 167 North 9th Street in Brooklyn, featuring 14 units. The sale price for the asset was $6,250,000, and it encompasses a total square footage of 17,934 with a price per square foot of $348.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,250,000
  • Units: 14
  • Price Per Unit: $446,428
  • Square Footage: 17,934
  • Price Per Square Foot: $348
  • Buyer: Twin Oaks Equity Partners
  • Seller: David Winter
  • Brokers: Shaun Riney & Michael Salvatico - Marcus & Millichap
  • Cap Rate (Current): ~6%
  • Cap Rate (Proforma): 12%

The transaction team, facilitating the deal, was supported by Lawrence Shepps, Michael Bobick, and Craig Price of Belkin Burden & Goldman LLP. The NYM Group has successfully sold four IMD loft buildings within the past 12 months, indicating a strong performance in this sector.

Players

Michael (Mike) Salvatico
Marcus & Millichap
Michael Salvatico
173 deals$787M volume(718) 475-4358
BROKER
Shaun Riney
Marcus & Millichap
Shaun Riney
355 deals$1.8B volume(718) 475-4369
BROKER

Details

SOLD
IMAGE: Shaun Riney & Michael Salvatico DATE: 5/20/2025 ADDRESS: 167 North 9th Street MARKET: Brooklyn ASSET TYPE: Multifamily BUYER: Twin Oaks Equity Partners SELLER: David Winter BROKERS: Shaun Riney (@ShaunRiney1) & Michael Salvatico (@MikeSalvatico) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $6,250,000 UNITS: 14 ~ PPU: $446,428 SF: 17,934 ~ PPSF: $348 NOTE FROM BROKER: ~6% cap current. 12% cap proforma. Make contact with transaction team to buy/sell similar. Legalized IMD loft building. Special thanks to Lawrence Shepps, Michael Bobick and Craig Price of Belkin Burden & Goldman LLP for their work in completing a complex assignment. The NYM Group has sold 4 IMD loft buildings in the past 12 months.

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

$333,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,204.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,628.19
Annual Debt Service$355,538.26