SOLD
The Golden Family Acquires Multifamily Property On Wythe Avenue In Williamsburg For $2.5M
398 Wythe Avenue
MultiFamily
4,045 SF
4,045 SF
Sold 1 year ago
Summary
Sale
NEW YORK
MultiFamily
4,045 sqft
The multifamily property located at 398 Wythe Avenue in Williamsburg, Brooklyn was recently sold in a closed transaction. The property is situated in a market with M1-2/R6, MX-8 zoning and offers a variety of opportunities for development.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Square Footage: 4,045
- Price per Square Foot: $618
- Number of Units: 2
The Golden Family purchased the property from Sam Tufnell. The transaction was facilitated by brokers Shaun Riney and Mike Salvatico from New York Multifamily and Marcus & Millichap NY, respectively. Their expertise and negotiation skills played a crucial role in the successful completion of the deal.
It is worth noting that 398 Wythe Avenue was part of a portfolio of properties. However, this specific property was sold individually to an end-user on As-Is terms with existing tenants in-place. The property garnered significant interest, with over 10 offers and a bidding war prior to the contract signing.
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: Shaun Riney & Mike Salvatico
DATE: 03/01/2021
ADDRESS: 398 Wythe Avenue
MARKET: Williamsburg, Brooklyn
ASSET TYPE: Multifamily ~ ZONING: M1-2/R6, MX-8
BUYER: The Golden Family
SELLER: Sam Tufnell
BROKERS: @ShaunRiney1 & @MikeSalvatico @NewYorkMultifamily @MarcusMillichap_NY
SALE PRICE: $2,500,000
SF: 4,045 ~ PPSF: $618
UNITS: 2 ~ PPU: $1,250,000
NOTE: Property was part of a portfolio of properties. 398 Wythe sold individually to an end-user on As-Is terms with existing tenants in-place. There were 10+ offers and a bidding war on the property prior to contract signing.View on map
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Address398 Wythe Avenue
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