Updated Oct 29, 2024
Yechiel Newhouse Acquires Affordable Housing Multifamily In Williamsburg, Brooklyn For $16M
450 Kent Avenue
$16,000,000
$106/SF
Building Size
149,831 SF
Asset Type
MultiFamily
Closing
Jan 19, 2023
About this deal
AI
An affordable housing multifamily property located at 450 Kent Avenue in Williamsburg, Brooklyn was recently sold for $16,000,000. Spanning over 149,831 square feet, the property was valued at an average price per square foot of $107.
Summary of transation details
- Property Type: Affordable Housing Multifamily
- Transaction Amount: $16,000,000
- Address: 450 Kent Avenue
- Market: Williamsburg, Brooklyn
- Buyer: Yechiel Newhouse
- Seller: L+M Development Partners & BFC Partners
- Brokers: Victor Sozio, Shimon Shkury & Benjamin Vago - Ariel Property Advisors
- SF: 149,831
- PPSF: $107
The sale was facilitated by brokers Victor Sozio, Shimon Shkury, and Benjamin Vago from Ariel Property Advisors. They played a crucial role in representing the buyer and seller in the transaction, ensuring a successful deal.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Benjamin Vago, Esq. to view all their deals.
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93