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Joel Schwartz Acquires Multifamily Property At 676 Lorimer Street In Williamsburg For $8.37M
SOLD
$8,365,275
New York
See Similar DealsMultiFamily26,047 SF
Sold
SOLD
Joel Schwartz Acquires Multifamily Property At 676 Lorimer Street In Williamsburg For $8.37M
676 Lorimer Street
See Similar DealsMultiFamily26,047 SF
Sold
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$321
Total Square Footage:26047 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$446,148.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,720.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,655.67
Annual Debt Service$475,868.06
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