Updated Dec 2, 2024
Hubb NYC Acquires Multifamily Property In Williamsburg, Brooklyn For $116.2M
247 North 7th Street, Brooklyn, NY 11211
$116,200,000
$769/SF
Building Size
151,000 SF
Asset Type
MultiFamily
Closing
Dec 16, 2021
About this deal
AI
A multifamily property located at 247 N. 7th St. in Williamsburg, Brooklyn has been sold for a total price of $116,200,000. The property consists of 169 units with an average price per unit (PPU) of $687,573. The total square footage of the property is 151,000, resulting in a price per square foot (PPSF) of $769.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $116,200,000
- Units: 169
- PPU: $687,573
- Square Footage: 151,000
- PPSF: $769
- Address: 247 N. 7th St., Williamsburg, Brooklyn
The buyers in this transaction are John McCarthy and Jesse Terry from HUBB NYC, while the seller is Greystar. The deal was facilitated by Rob Hinckley, Jeff Julien, Steven Rutman, John Taylor, and Joy Ryoo from JLL, who represented both the buyer and the seller.
On the Map
$116,200,000
$769/SF
MultiFamily
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New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93