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583 Lorimer Street, Brookly...

Nicolas Aaron Dayan Acquires Apartment Building In Williamsburg, Brooklyn For $10.8M
SOLDMultiFamily

Nicolas Aaron Dayan Acquires Apartment Building In Williamsburg, Brooklyn For $10.8M

583 Lorimer Street, Brooklyn, New York 11211, United States

$10,800,000

$1,252/SF

Building Size

8,625 SF

Asset Type

MultiFamily

Closing

Jan 27, 2022

AI

The property at 583 Lorimer Street in Williamsburg, Brooklyn has been sold in a recent transaction. The apartment building is located in an area zoned as R7A, R6B, and C2-4. The sale took place on January 28, 2022. The buyer, Nicolas Aaron Dayan, acquired the property from the seller, Daniel Cohen. The transaction was completed for a price of $10,800,000.

Summary of transation details

  • Property Type: Apartment
  • Transaction Amount: $10,800,000
  • Address: 583 Lorimer Street, Williamsburg, Brooklyn
  • Zoning: R7A, R6B, C2-4

The apartment building has a building square footage (BSF) of 10,000, which translates to a price per BSF (PPBSF) of $1,080. The total lot size is 2,500 square feet, with dimensions of 25 ft x 100 ft. The building itself spans 8,625 square feet, resulting in a price per square foot (PPSF) of $1,252.17. The property's floor-area ratio (FAR) is 3.45.

In addition to the sale information, it is worth noting that the property had a previous sale in 2013, where it was sold for $2,250,000 on August 28.

Players

Daniel Cohen

Seller

$36.7M

vol

10 deals

Seller

New York 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

1.47%

Cash-on-Cash

-0.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93