Updated Dec 21, 2023
The Landau Family Acquires Multifamily Property In Williamsburg, Brooklyn
228 North 7th Street, Brooklyn, NY 11211
$4,600,000
$464/SF
Building Size
9,912 SF
Asset Type
MultiFamily
Closing
Dec 20, 2021
About this deal
AI
The multifamily property located at 228 North 7th Street, Williamsburg, Brooklyn has been sold for a total price of $4,600,000. The property consists of 11 units, with a price per unit (PPU) of $418,181. The building spans a total of 17,328 square feet, with a price per square foot (PPSF) of $265. The total square footage of the property is 9,912, with a price per buildable square foot (PPBSF) of $464. This transaction took place on December 20, 2021. The property was sold As-Is.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,600,000
- Units: 11
- Price Per Unit: $418,181
- Building Square Footage: 17,328
- Price Per Square Foot: $265
- Total Square Footage: 9,912
- Price Per Buildable Square Foot: $464
The Landau Family purchased this property through the representation of Mike Salvatico, Shaun Riney, and Sam Leppo from Marcus & Millichap.
Players
New York 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
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93