Updated Oct 14, 2026
Gaia Real Estate Holdings Acquires Multifamily In Williamsburg For $80M
55 Hope Street
$80,000,000
$898/SF
Building Size
89,000 SF
Asset Type
MultiFamily
Closing
Aug 23, 2022
About this deal
AI
The multifamily property located at 55 Hope St. in Williamsburg has been sold in a recent transaction. The property spans over an area of approximately 89,000 square feet and consists of 117 units. The selling price for this property was $80,000,000, resulting in a per unit price of $683,760. The price per square foot was calculated at $898.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $80,000,000
- Units: 117
- Price per Unit: $683,760
- Square Footage: 89,000
- Price per Square Foot: $898
The purchasing entity, Gaia Real Estate Holdings, led by Danny Fishman and David Kusy, acquired the property. On the other hand, Hope Street Capital acted as the seller in this transaction.
On the Map
$80,000,000
$898/SF
MultiFamily
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Players
Christchurch 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93