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GPG Properties Acquires 30-...

GPG Properties Acquires 30-Unit Walkup Building In Williamsburg, Brooklyn For $3.03M
SOLDMultiFamily

GPG Properties Acquires 30-Unit Walkup Building In Williamsburg, Brooklyn For $3.03M

$3,000,000

$150/SF

Building Size

19,950 SF

Asset Type

MultiFamily

Closing

Jul 25, 2023

AI

The property involved in this transaction is a 30-unit residential walkup building located at 158-160 South 3rd Street in Williamsburg, Brooklyn. The property was sold for a total price of $3,025,000, with a square footage of 19,950 and a price per square foot of $152.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $3,025,000
  • Address: 158-160 South 3rd Street, Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn
  • Buyer: GPG Properties (GPG 160s3 LLC)
  • Seller: Anna Ivasilevich (160 South 3rd Street Associates)

GPG Properties, through its entity GPG 160s3 LLC, acquired the 30-unit residential walkup building located at 158-160 South 3rd Street in Williamsburg, Brooklyn from Anna Ivasilevich's entity 160 South 3rd Street Associates. This transaction highlights the successful deal between GPG Properties and Anna Ivasilevich, showcasing the individuals and companies involved in the purchase and sale of the property.

Players

GP
GPG PropertiesBuyer

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93