Fetner Properties, MCB & Farallon Acquire Multifamily Asset In Fort Greene For $209.5M
240 Willoughby Street
$209,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 7, 2025
AI
The property involved in this transaction is located at 240 Willoughby Street, Fort Greene, Brooklyn. It is classified as a multifamily asset encompassing 463 residential units. The transaction was completed for a total sale price of $209,500,000, which equates to a price per unit of $452,483.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $209,500,000
- Units: 463
- Price Per Unit: $452,483
- Buyer: Fetner Properties, MCB & Farallon
- Brokers: Jeffrey Julien, Rob Hinckley, Jim Curtin & Steven Rutman - JLL
- Date of Transaction: 7/8/2025
The transaction was facilitated by a team of brokers from JLL, including Jeffrey Julien, Rob Hinckley, Jim Curtin, and Steven Rutman. Together, they represented the interests of the involved parties throughout the sale process, ensuring the deal progressed smoothly to completion.
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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93