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

Property Image
SOLD
$3,000,000

New York

See Similar Deals
MultiFamily19,950 SF
Sold 07/25/2023
the dealdetailscomps
Property Image
SOLD

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

MultiFamily19,950 SF
Sold 07/25/2023
the dealdetailscomps

Summary

Asset Type:MultiFamily
Price Per Square Foot:$150
Total Square Footage:19,950 SF
Transaction Type:Sale

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 Properties
BUYER

Details

SOLD
IMAGE: 07/25/2023 ADDRESS: 158-160 South 3rd Street MARKET: Williamsburg, Brooklyn ASSET TYPE: MultiFamily BUYER: GPG Properties SELLER: Anna Ivasilevich SALE PRICE: $3,025,000 SF: 19,950 ~ PPSF: $152 NOTE: GPG Properties, through its entity GPG 160s3 LLC, acquired a 30-unit residential walkup building located at 158-160 South 3rd Street in Williamsburg, Brooklyn, for $3 million from Anna Ivasilevich's entity 160 South 3rd Street Associates

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$160,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37