Updated Dec 21, 2023
Benjamin Vago & Stephen Vorvolakos Of Ariel Property Advisors Sell Williamsburg Multifamily Property For $1.7M
318 Humboldt Street, Brooklyn, New York 11211, United States
$1,725,000
$345/SF
Building Size
5,000 SF
Asset Type
MultiFamily
Closing
Jun 14, 2022
About this deal
AI
Located in Williamsburg, the multifamily property at 318 Humboldt Street was recently sold for a price of $1,725,000. The sale, which took place on June 15, 2022, involved a total of 7 units, resulting in a price per unit of $246,428. The property spans across 5,000 square feet, with a price per square foot of $345.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $1,725,000
- Units: 7
- Price per Unit: $246,428
- Square Footage: 5,000
- Price per Square Foot: $345
The sale was facilitated by Ariel Property Advisors, with Benjamin Vago and Stephen Vorvolakos serving as the brokers representing the parties involved. The property, situated in the bustling market of Williamsburg, attracted significant attention.
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
9.20%
Cash-on-Cash
-2.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93