Updated Oct 28, 2024
NH Investment & Securities Acquires Multifamily Property In Williamsburg, Brooklyn For $157.5M
275 5th Street, Brooklyn, New York 11215, United States
$157,500,000
$463/SF
Building Size
340,000 SF
Asset Type
MultiFamily
Closing
May 5, 2022
About this deal
AI
An attractive multifamily property located at 275 South 5th Street in Williamsburg, Brooklyn, was recently sold in a closed transaction. The property comprises 177 units, with a total square footage of 340,000. The sale price for this multifamily asset was $157,500,000, resulting in a price per unit of $889,830, and a price per square foot of $463.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $157,500,000
- Address: 275 South 5th Street
- Market: Williamsburg, Brooklyn
The deal was facilitated by the brokerage firm Cushman & Wakefield. The buyer, NH Investment & Securities, acquired the property from the sellers, Tavros Capital Partners and Charney Companies. The transaction was represented by brokers Adam Spies, Adam Doneger, Marcella Fasulo, and Daniel OBrien, who are associated with Cushman & Wakefield.
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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93