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

Property Image
SOLD
$1,100,000

New York

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MultiFamily2,336 SF
Sold 01/07/2022
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Property Image
SOLD

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

281 South 2nd Street, Brooklyn, NY 11211

See Similar Deals
MultiFamily2,336 SF
Sold 01/07/2022
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$470
Total Square Footage:2,336 SF
Transaction Type:Sale

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

14 deals$18M volume
BUYER

Details

SOLD
IMAGE: Enrico Ferri DATE: 01/07/2022 ADDRESS: 281 South 2nd Street MARKET: Williamsburg, Brooklyn ASSET TYPE: Multifamily ~ ZONING: R6 BUYER: Unicorn Properties Group (@UnicornPropertiesGroup) - Enrico Ferri SELLER: Hector Raimundi SALE PRICE: $1,100,000 SF: 2,336 ~ PPSF: $470 UNITS: 3 ~ PPU: $366,666 NOTE FROM @UnicornPropertiesGroup: We are active buyers searching for 1-5 unit properties in Brooklyn, Queens & Manhattan. 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 Office: 718-725-1500 Ext 205 Cell: 917-905-8940 Email: [email protected] 426 Lafayette Ave., Brooklyn, NY 11238 Follow us @ Linkedin https://www.linkedin.com/company/unicornpropertiesgroup

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$58,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73