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364 South 1st Street, Brook...

Jonathan Wiener Acquires Multi Family Property In Williamsburg, Brooklyn For $6.4M
SOLDMultiFamily

Jonathan Wiener Acquires Multi Family Property In Williamsburg, Brooklyn For $6.4M

364 South 1st Street, Brooklyn, New York 11211, United States

$6,406,198

$300/SF

Building Size

21,300 SF

Asset Type

MultiFamily

Closing

Dec 7, 2021

AI

The multi-family property located at 364 South 1 Street in Williamsburg, Brooklyn was sold on December 8, 2021. The property is zoned as R6 and C2-3, allowing for residential and commercial use. With a building size of 12,928 square feet (BSF), the property offers a price per square foot (PPSF) of $301. The total lot size is 5,320 square feet, with dimensions of 56 ft x 95 ft. The property has a floor area ratio (FAR) of 4.00 and is classified as tax class 2.

Summary of Transaction Details

  • Property Type: Multi Family
  • Transaction Amount: $6,406,198
  • Market: Williamsburg, Brooklyn
  • Buyer: Jonathan Wiener
  • Seller: Morris Joseph Knoll
  • Building Size (BSF): 12,928
  • Price per Square Foot (PPSF): $301
  • Total Square Footage (SF): 21,300
  • Lot Size: 5,320
  • Last Sale Price: $0 (11/15/2021)
  • Lot Dimensions: 56 ft x 95 ft

Jonathan Wiener, the buyer, acquired the property from Morris Joseph Knoll. The transaction price was $6,406,198. The property offers a price per building square foot (PPBSF) of $496. The previous sale of the property took place on November 15, 2021, for a price of $0. It is worth noting that no additional details were provided regarding the deal participants or the buyer's representative.

Players

Jonathan Wiener

Chestnut Holdings

Buyer

$165.6M

vol

24 deals

Buyer

Morris Joseph Knoll

Seller

$65.3M

vol

10 deals

Seller

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

2.48%

Cash-on-Cash

-0.71%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93