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281 South 2nd Street, Brook...

Unicorn Properties Group Acquires Multifamily Property In Williamsburg, Brooklyn For $1.1M
SOLDMultiFamily

Unicorn Properties Group Acquires Multifamily Property In Williamsburg, Brooklyn For $1.1M

281 South 2nd Street, Brooklyn, NY 11211

$1,100,000

$470/SF

Building Size

2,336 SF

Asset Type

MultiFamily

Closing

Jan 7, 2022

AI

A multifamily property located at 281 South 2nd Street in Williamsburg, Brooklyn has been sold for $1,100,000. The property spans 2,336 square feet and has a price per square foot of $470. It consists of three units, with each unit being sold at an average price of $366,666. The transaction took place on January 7, 2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,100,000
  • Address: 281 South 2nd Street, Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn
  • Zoning: R6

The buyer, Unicorn Properties Group, represented by Enrico Ferri, acquired the property from the seller, Hector Raimundi. Unicorn Properties Group is actively searching for 1-5 unit properties in Brooklyn, Queens, and Manhattan, with a preference for single, multi-unit, and mixed-use properties that require rehabilitation or have condo conversion potential. Enrico Ferri, the Senior Director of Real Estate Acquisitions at Unicorn Properties Group, can be contacted for more information at Office: 718-725-1500 Ext 205, Cell: 917-905-8940, and Email: [email protected].

Note from @UnicornPropertiesGroup: We have a preference for single, multi-unit & mixed-use properties that require rehabilitation or have the potential for a condo conversion. For more info please contact Enrico Ferri, Senior Director of Real Estate Acquisitions, at the provided contact details.

Players

Enrico Ferri

Unicorn Properties Group

Buyer

$18M

vol

14 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

14.42%

Cash-on-Cash

-4.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93