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175 Conselyea Street, Willi...

Updated Dec 20, 2023

Eitan Fraiman Acquires Multifamily Property In Williamsburg, Brooklyn For $1.5M
SOLDMultiFamily

Eitan Fraiman Acquires Multifamily Property In Williamsburg, Brooklyn For $1.5M

175 Conselyea Street, Williamsburg, Brooklyn, NY, USA

$1,500,000

$583/SF

Building Size

2,571 SF

Asset Type

MultiFamily

Closing

Dec 16, 2020

About this deal

AI

Located in Williamsburg, Brooklyn, the multifamily property at 175 Conselyea Street recently changed hands in a closed sale transaction. The deal was finalized on December 17, 2020, with a purchase price of $1,500,000. Spanning across 2,571 square feet, the property features three units, resulting in a price per square foot of $583. The buyer of the property was Eitan Fraiman, while the seller was Linda Delia. The transaction was facilitated by the brokers Derek Bestreich, Luke Sproviero, and Hakeem Lecky from Bestreich Realty Group.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $1,500,000
  • Address: 175 Conselyea Street
  • Market: Williamsburg, Brooklyn
  • Asset Type: Multifamily
  • Zoning: R6B
  • Square Footage: 2,571
  • Units: 3
  • PPSF: $583
  • PPU: $500,000

Eitan Fraiman emerged as the successful buyer of the property, while Linda Delia acted as the seller. The deal was made possible through the efforts of brokers Derek Bestreich, Luke Sproviero, and Hakeem Lecky from Bestreich Realty Group. Their expertise in the local market played a crucial role in facilitating the transaction smoothly.

Players

Derek Bestreich

Investment Property Realty Group (IPRG)

Broker

$1.1B

vol

319 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $583 per square foot on a published $1.5M for 2,571 square feet (2020).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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