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Jonathan Wiener Acquires Multi Family Property In Williamsburg, Brooklyn For $10.5M

Property Image
SOLD
$10,550,254

New York

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MultiFamily38,505 SF
Sold 12/08/2021
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Property Image
SOLD

Jonathan Wiener Acquires Multi Family Property In Williamsburg, Brooklyn For $10.5M

390 Hooper Street, Brooklyn, New York 11211, United States

See Similar Deals
MultiFamily38,505 SF
Sold 12/08/2021
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$274
Total Square Footage:38,505 SF
Transaction Type:Sale

A multifamily property located at 390 Hooper Street in the Williamsburg neighborhood of Brooklyn has recently been sold. The property is zoned as R6 and is situated on a lot with dimensions of 95 ft x 75.5 ft, totaling a size of 7,172 square feet. The property has a floor area ratio (FAR) of 5.37 and falls under tax class 2. The last recorded sale of this property was on January 22, 1985, for a price of $0.

Summary of transaction details:

  • Property Type: Multi Family
  • Transaction Amount: $10,550,254
  • Buyer: Jonathan Wiener
  • Seller: Morris Joseph Knoll
  • Building Square Footage: 38,505
  • Price per Square Foot: $274
  • Lot Size: 7,172 square feet
  • Last Sale Price: $0 (1/22/1985)

The buyer in this transaction is represented by Jonathan Wiener. The deal was facilitated by Morris Joseph Knoll, who acted as the seller's representative.

Players

Jonathan Wiener
24 deals$165.6M volume
BUYER

Details

SOLD
IMAGE: 12/08/2021 ADDRESS: 390 Hooper Street MARKET: Williamsburg, Brooklyn ASSET TYPE: Multi Family ~ ZONING: R6 BUYER: Jonathan Wiener SELLER: Morris Joseph Knoll PRICE: $10,550,254 BSF: 17,428 ~ PPBSF: $605 SF: 38,505 ~ PPSF: $274 FAR: 5.37 TAX CLASS: 2 LOT SIZE: 7,172 LAST SALE PRICE: $0 (1/22/1985) LOT DIMENSION: 95 ft x 75.5 ft

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

$562,680.21

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$37,482.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,013.59
Annual Debt Service$600,163.04