Updated Mar 10, 2026
Joel Schwartz Acquires Multifamily Property At 676 Lorimer Street In Williamsburg For $8.37M
676 Lorimer Street
$8,365,275
$321/SF
Building Size
26,047 SF
Asset Type
MultiFamily
Closing
Feb 20, 2026
About this deal
AI
676 Lorimer Street is a multifamily property located in Williamsburg, Brooklyn. The property consists of 26,047 square feet and was sold for $8,365,275, translating to approximately $321 per square foot.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $8,365,275
- Sale Date: 02/27/2026
- Address: 676 Lorimer Street
- Market: Williamsburg, Brooklyn
- Square Footage: 26,047
- Price Per Square Foot: $321
- Buyer: Joel Schwartz
- Seller: Jonathan Babakhanov
Joel Schwartz completed the purchase representing his interests in the multifamily property, while Jonathan Babakhanov acted as the seller in this transaction.
On the Map
$8,365,275
$321/SF
MultiFamily
View full map
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Joel Schwartz to view all their deals.
Browse Brooklyn multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.90%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93