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
$116,200,000
$765/SF
Building Size
151,766 SF
Asset Type
MultiFamily
Closing
Dec 15, 2021
AI
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.
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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93