Updated Jul 7, 2026
Justin Lee Purchases Multifamily Property At 170 South 2nd Street For $4,250,000
170 South 2nd Street
$4,250,000
$757/SF
Building Size
5,610 SF
Asset Type
MultiFamily
Closing
Jun 16, 2026
About this deal
AI
Justin Lee has purchased a multifamily property located at 170 South 2nd Street in Williamsburg, Brooklyn. The property spans 5,610 square feet and was acquired for a total of $4,250,000, resulting in a price per square foot of $758. The transaction closed on June 16, 2026.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $4,250,000
- Sale Date: June 16, 2026
- Address: 170 South 2nd Street
- Market: Williamsburg, Brooklyn
- Square Footage: 5,610
- Price Per Square Foot: $758
- Seller: Marcial Tarrats & Rosemary Richardson
- Buyer: Justin Lee
Marcial Tarrats and Rosemary Richardson acted as the sellers in this transaction. Their decision to sell this property followed market trends in the Williamsburg area, characterized by ongoing interest in multifamily assets.
On the Map
$4,250,000
$757/SF
MultiFamily
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Players
Brooklyn 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
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93