GD Capital Acquires 8-Unit Multifamily In East Williamsburg For $3.375M

This Multifamily property located at 267 Powers Street in East Williamsburg was recently sold in a closed transaction. The sale took place on November 18, 2020, and the property was purchased for a total price of $3,375,000. The property consists of 8 units with a total square footage of 6,043. The price per unit was $421,875, and the price per square foot was $558. The property is classified under tax class 2B and is zoned as R6B.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,375,000
• Address: 267 Powers Street, East Williamsburg
• Market: East Williamsburg
• Units: 8
• Price Per Unit: $421,875
• Total Square Footage: 6,043
• Price Per Square Foot: $558
• Tax Class: 2B

Mark Guindi from GD Capital served as the buyer in this transaction, while Andrzej Roth was the seller. The deal was facilitated by broker Danny Duffoo from Douglas Elliman. It is worth noting that GD Capital, the buyer, is actively seeking new acquisitions of multifamily properties in Brooklyn and Manhattan, with a focus on properties with strong cash flow or excellent value-add potential.