Daniel Knoll Acquires Mixed Use Property In East Williamsburg For $2.4M
488 Metropolitan Avenue
Mixed-use
2,100 SF
2,100 SF
Summary
An East Williamsburg mixed-use property located at 488 Metropolitan Avenue has been sold for $2,400,000. The property spans 2,100 square feet and has a building square footage of 3,520. With a price per square foot of $1,143 and a price per building square foot of $681, the property offers potential for a diverse range of uses. The transaction represents a 6.22% cap rate and includes three units.
Summary of transaction details
- Property Type: Mixed Use
- Transaction Amount: $2,400,000
- Street Address: 488 Metropolitan Avenue
- Market: East Williamsburg
- Total Square Footage: 2,100
- Building Square Footage: 3,520
- Price per Square Foot: $1,143
- Price per Building Square Foot: $681
- Units: 3
- Cap Rate: 6.22%
The buyer of the property is Daniel Knoll, and the seller is David Shorenstein. The transaction was facilitated by Shaun Riney and Mike Salvatico from New York Multifamily.
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488 Metropolitan Avenue
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