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47 Withers Street, Williams...

Updated Dec 19, 2023

Ari Harkov's Team Acquires Multifamily Property On Withers Street In Williamsburg For $4.1M
SOLDMultiFamily

Ari Harkov's Team Acquires Multifamily Property On Withers Street In Williamsburg For $4.1M

47 Withers Street, Williamsburg, Brooklyn, NY, USA

$4,085,000

$833/SF

Building Size

4,900 SF

Asset Type

MultiFamily

Closing

Sep 3, 2021

About this deal

AI

Located in Williamsburg, the multifamily property at 47 Withers Street has recently been sold. The property, with a total area of 4,900 square feet, is classified as a 2B tax class. The transaction was facilitated by Joseph Rosenfeld, Baruch Edelkopf, and Schuckman Realty Inc on the seller's side, while the buyer was represented by Ari Harkov from The Harkov Lewis Team. The property was listed for $4,200,000 and ultimately sold for $4,085,000, resulting in a price per square foot of $833. Notably, the property had previously been sold in December 2014 for $1,550,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,085,000
  • Address: 47 Withers Street, Williamsburg
  • Market: Williamsburg
  • Tax Class: 2B

Ari Harkov from The Harkov Lewis Team represented the buyer in this transaction, while Joseph Rosenfeld, Baruch Edelkopf, and Schuckman Realty Inc represented the seller. The property, with its prime location in the vibrant Williamsburg neighborhood, attracted significant attention in the market. This successful sale is a testament to the value and appeal of this multifamily asset in Williamsburg.

Players

Ari Harkov

Brown Harris Stevens

Broker

$429.1M

vol

86 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $833 per square foot on a published $4.1M for 4,900 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.88%

Cash-on-Cash

-1.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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