John P McCarthy & Jesse Terry Acquire Multi Family Property In Williamsburg, Brooklyn For $116.2M
SOLD
$116,200,000
New York
See Similar DealsMultiFamily151,766 SF
Sold 12/16/2021
SOLD
John P McCarthy & Jesse Terry Acquire Multi Family Property In Williamsburg, Brooklyn For $116.2M
255 North 7th Street, Brooklyn, New York 11211, United States
See Similar DealsMultiFamily151,766 SF
Sold 12/16/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$765
Total Square Footage:151,766 SF
Transaction Type:Sale
The multi-family property located at 255 North 7th Street & 246 North 8th Street in Williamsburg, Brooklyn has been sold. The transaction took place on December 16, 2021. The property is zoned as M1-2/R6A, MX-8 and covers an area of 151,766 square feet. The sale price for the property was $116,200,000, with a price per square foot of $766. The previous sale of the property occurred on January 3, 2016, with a price of $125,000,000.
Summary of transation details
- Property Type: Multi Family
- Transaction Amount: $116,200,000
- Market: Williamsburg, Brooklyn
- Zoning: M1-2/R6A, MX-8
- Square Footage: 151,766
- Price per Square Foot: $766
- Buyer: John P McCarthy & Jesse Terry
- Seller: A Joshua Carper
- Last Sale Price: $125,000,000 (01/03/2016)
The buyer of the property is represented by John P McCarthy & Jesse Terry, while A Joshua Carper acted as the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,197,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$412,834.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$550,847.28
Annual Debt Service$6,610,167.39
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