Marcus & Millichap Closes $2.75M Multifamily Sale In Williamsburg, Brooklyn

The property at 190 North 9th Street in Williamsburg, Brooklyn, is a multifamily asset consisting of 3 units with a total square footage of 1,750. This property was recently sold for $2,750,000, resulting in a price per unit of $916,667 and a price per square foot of $1,571.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $2,750,000
• Units: 3
• Price Per Unit: $916,667
• Square Footage: 1,750
• Price Per Square Foot: $1,571
• Address: 190 North 9th Street, Williamsburg, Brooklyn
• Market: Williamsburg, Brooklyn

Shaun Riney, Michael Salvatico, and Samuel Leppo from Marcus & Millichap represented the transaction as brokers. The NYM Group, through Mike Salvatico and Sam Leppo, successfully closed the deal within 30 days of marketing, achieving the full asking price for the property. The property sits on a 25’ x 100’ lot with 5,000 Buildable SF, selling at a competitive price of $1,571 per existing SF and $550 per buildable SF. The buyer chose to close the deal with an all-cash payment, indicating strong demand for development sites and free market buildings in the area.