Yechiel Newhouse Acquires Affordable Housing Multifamily In Williamsburg, Brooklyn For $16M

An affordable housing multifamily property located at 450 Kent Avenue in Williamsburg, Brooklyn was recently sold for $16,000,000. Spanning over 149,831 square feet, the property was valued at an average price per square foot of $107.

Summary of transation details

• Property Type: Affordable Housing Multifamily
• Transaction Amount: $16,000,000
• Address: 450 Kent Avenue
• Market: Williamsburg, Brooklyn
• Buyer: Yechiel Newhouse
• Seller: L+M Development Partners & BFC Partners
• Brokers: Victor Sozio, Shimon Shkury & Benjamin Vago - Ariel Property Advisors
• SF: 149,831
• PPSF: $107

The sale was facilitated by brokers Victor Sozio, Shimon Shkury, and Benjamin Vago from Ariel Property Advisors. They played a crucial role in representing the buyer and seller in the transaction, ensuring a successful deal.