Highpoint Property Group And Corner Street Capital Acquire Multifamily Portfolio In Williamsburg For $166.15M

A multifamily property located at 96 Bedford Ave., 217 Court St., 144 N 11th St., 99 N 7th St., 273 Leonard St., 148-152 S 4th St., 22 Melrose St., 482-488 Seneca Ave., 555 Grand St., 58 Palmetto St., 175-177 Palmetto St., 540 Driggs Ave., 209 Montrose Ave., 41 Skillman Ave., 725 Metropolitan Ave., & 183 Ainslie St., 99 N 4th St. in Williamsburg, Brooklyn was recently sold for a total price of $166,150,000. The property consists of 180 units with an average price per unit of approximately $923,055. The total square footage of the property is 144,000, resulting in an average price per square foot of $1,153.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $166,150,000
• Units: 180
• Price Per Unit: $923,055
• Square Footage: 144,000
• Price Per Square Foot: $1,153

The buyer of the property was Highpoint Property Group represented by Drew Popkin and Corner Street Capital represented by Ross Banon. The sale was brokered by Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, and Winfield Clifford of JLL.