Updated Feb 5, 2025
LIHC Investment Group Acquires Williamsburg Multifamily For $84.9M
391 Lorimer Street, Brooklyn, New York 11206, United States
$84,900,000
$464/SF
Building Size
182,879 SF
Asset Type
MultiFamily
Closing
Jul 27, 2022
About this deal
AI
The multifamily property located at 391 Lorimer Street, 16 Ten Eyck Street, and 417 Lorimer Street in Williamsburg has been sold. The sale, which took place on July 28, 2022, involved a total of 263 units. The property spans 182,879 square feet and was sold for a total price of $84,900,000, resulting in a price per unit of $322,813 and a price per square foot of $464.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $84,900,000
- Number of Units: 263
- Price per Unit: $322,813
- Size: 182,879 square feet
- Price per Square Foot: $464
- Market: Williamsburg
The buyer of the property was LIHC Investment Group, while the seller was Cammebys International Group and FBE Limited.
On the Map
$84,900,000
$464/SF
MultiFamily
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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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93