MetLife Acquires Multifamily Asset In Williamsburg From Clarion Partners For $68.25M
$68,250,000
$1,018/SF
Building Size
66,981 SF
Asset Type
MultiFamily
Closing
Jan 25, 2023
AI
MetLife has acquired a multifamily property located at 44 Berry St & 139 N 10th St in Williamsburg. The transaction was completed on January 25, 2023, with a sale price of $68,250,000. The property consists of 78 units with an average price per unit of $875,000. Spanning across 66,981 square feet, the property has a price per square foot of $1,019.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $68,250,000
- Market: Williamsburg
- Address: 44 Berry St & 139 N 10th St
- Buyer: MetLife
- Seller: Clarion Partners
- Brokers: Gary Phillips, Will Silverman & Daniel Parker - Eastdil Secured
- Units: 78
- Price per Unit: $875,000
- Square Footage: 66,981
- Price per Square Foot: $1,019
The transaction was facilitated by brokers Gary Phillips, Will Silverman, and Daniel Parker from Eastdil Secured.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93