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431 Wythe Avenue

Edifice Management/ Holliswood Development Acquires Multifamily Properties In Williamsburg, Brooklyn For $8.95M
SOLDMultiFamily

Edifice Management/ Holliswood Development Acquires Multifamily Properties In Williamsburg, Brooklyn For $8.95M

431 Wythe Avenue, 433 Wythe Avenue & 313 South 4th Street

$8,950,000

$201/SF

Building Size

44,400 SF

Asset Type

MultiFamily

Closing

Nov 13, 2023

AI

In a recent transaction in Williamsburg, Brooklyn, a multifamily property located at 431 & 433 Wythe Avenue & 313 South 4th Street changed hands. The property, spanning 14,800 square feet, consists of 28 units. The sale price for this transaction was $8,950,000, resulting in a price per unit of $319,643 and a price per square foot of $605.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,950,000
  • Address: 431 & 433 Wythe Avenue & 313 South 4th Street, Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn
  • Buyer: Dana Lowey, Helena Wilner & Solomon Berger - Edifice Management/ Holliswood Development
  • Seller: Gil Boosidan
  • Brokers: Ben Khakshoor, Alex Fuchs & Reouven Elharar - Rosewood Realty Group
  • Units: 28
  • Price per Unit: $319,643
  • Square Footage: 14,800
  • Price per Square Foot: $605

Holliswood Development, represented by Dana Lowey, Helena Wilner, and Solomon Berger of Edifice Management, made this acquisition to further expand their portfolio and contribute to the development of affordable luxury properties in prime NYC communities. For any inquiries or potential deals, please reach out to Solomon Berger at [email protected].

Players

Ben Khakshoor

Rosewood Realty Group

Broker

$1.9B

vol

135 deals

Broker

Gil Boosidan

Seller

$30.1M

vol

6 deals

Seller

Brooklyn 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

1.77%

Cash-on-Cash

-0.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93