TF Cornerstone Acquires Multifamily Property In Williamsburg For $70.8M

A multifamily property located at 223 N. 8th St. in Williamsburg has been sold for $70,770,000. The transaction took place on April 27, 2022. The property consists of 95 units, with an average price per unit of $744,947. It spans a total square footage of 64,641, resulting in a price per square foot of $1,094. The sale was brokered by Jeffrey Julien, Rob Hinckley, Steven Rutman, and Joy Ryoo of JLL.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $70,770,000
• Units: 95
• Price per Unit: $744,947
• Square Footage: 64,641
• Price per Square Foot: $1,094
• Address: 223 N. 8th St.
• Market: Williamsburg

The buyer in this transaction was TF Cornerstone, while the sellers were Trinity Place Holdings and Pacolet Milliken. The deal was facilitated by JLL's Jeffrey Julien, Rob Hinckley, Steven Rutman, and Joy Ryoo as the brokers representing both parties.