Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Sells Multi Family in Williamsburg

06/20/2012

A walk-up multifamily building at 189-191 South 9th Street, located between Driggs Avenue and Roebling Street in Brooklyn’s Williamsburg neighborhood, was sold in an all cash transaction valued at $4,400,000.

The six-story building is approximately 24,900 square feet and sits on a 50’ x 108’ lot.  The building, which is primarily rent stabilized, contains 30 apartment units.  The sale price equates to approximately $176 per square foot and a 6.15% capitalization rate.

“There is a high demand for multifamily properties in Williamsburg right now,” said Massey Knakal Vice President of Sales Mark Lively who exclusively represented the seller with Director of Sales Brendan Maddigan.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.

www.masseyknakal.com

06/20/2012 - 09:40

Source

Cushman & Wakefield Capital Markets Group New York

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