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387 South 4th Street, Brook...

Jonathan Wiener Acquires Multi Family Property In Williamsburg, Brooklyn
SOLDMultiFamily

Jonathan Wiener Acquires Multi Family Property In Williamsburg, Brooklyn

387 South 4th Street, Brooklyn, New York 11211, United States

$7,705,584

$313/SF

Building Size

24,600 SF

Asset Type

MultiFamily

Closing

Dec 7, 2021

AI

The multi-family property located at 387 South 4 Street in Williamsburg, Brooklyn has been sold. The property is zoned as R6 and has a total floor area ratio (FAR) of 5.18. The lot size is 4,750 square feet with dimensions of 50 ft x 95 ft. The property consists of 11,542 square feet of buildable space (BSF) with a price per buildable square foot (PPBSF) of $668. The total square footage of the property is 24,600 with a price per square foot (PPSF) of $313. The previous sale of the property took place on December 27, 2013, for a price of $0.

Summary of transaction details

  • Property Type: Multi Family
  • Transaction Amount: $7,705,584
  • Market: Williamsburg, Brooklyn
  • Buyer: Jonathan Wiener
  • Seller: Morris Joseph Knoll & Yosefa Knoll

The buyer in this transaction is Jonathan Wiener, while the sellers are Morris Joseph Knoll and Yosefa Knoll. The price paid for the property was $7,705,584. The property has a tax class of 2.

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

2.06%

Cash-on-Cash

-0.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93