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Timothy P Yantz Acquires Apartment Building On Roebling Street In Williamsburg, Brooklyn For $10.5M

Property Image
SOLD
$10,500,000

New York

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MultiFamily33,750 SF
Sold 10/13/2022
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Property Image
SOLD

Timothy P Yantz Acquires Apartment Building On Roebling Street In Williamsburg, Brooklyn For $10.5M

77 Roebling Street, Brooklyn, New York 11211, United States

See Similar Deals
MultiFamily33,750 SF
Sold 10/13/2022
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$311
Total Square Footage:33,750 SF
Transaction Type:Sale

An apartment building located at 77-83 Roebling Street in Williamsburg, Brooklyn has been sold in a transaction dated October 13, 2022. The property, which falls under the M1-2/R6A and MX-8 zoning designations, offers a total of 37,500 square feet of buildable space (BSF) at a price of $10,500,000. This translates to a price per buildable square foot (PPBSF) of $280. The total size of the lot is 12,500 square feet, with dimensions of 100 ft x 125 ft.

Summary of Transaction Details:

  • Property Type: Apartment
  • Transaction Amount: $10,500,000
  • Market: Williamsburg, Brooklyn
  • Zoning: M1-2/R6A, MX-8
  • Buildable Square Feet (BSF): 37,500
  • Price per Buildable Square Foot (PPBSF): $280
  • Lot Size: 12,500 square feet
  • Lot Dimension: 100 ft x 125 ft

The buyer of the property is Timothy P Yantz, while the seller is Morris Feldman. The transaction also involved an alteration permit issued on December 30, 2016. The property has a floor area ratio (FAR) of 2.70 and falls under tax class 2.

Players

2 deals$17.5M volume
SELLER

Details

SOLD
IMAGE: 10/13/2022 ADDRESS: 77-83 Roebling Street MARKET: Williamsburg, Brooklyn ASSET TYPE: Apartment ~ ZONING: M1-2/R6A, MX-8 BUYER: Timothy P Yantz SELLER: Morris Feldman PRICE: $10,500,000 BSF: 37,500 ~ PPBSF: $280 SF: 33,750 ~ PPSF: $311 FAR: 2.70 TAX CLASS: 2 LOT SIZE: 12,500 PERMITS: Alteration 2 (12/30/2016) LOT DIMENSION: 100 ft x 125 ft

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
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