Dana Lowery of Edifice Management has acquired a multifamily portfolio in Williamsburg, comprising three multifamily buildings, from Gil Boosidan for $8.95 million.
The buildings, located at 313 South 4th Street between Rodney and Keap Streets, and 431 and 433 Wythe Avenue between 8th and 9th Streets, were sold at a combined cap rate of 5.7%, equating to 16.4 times the current monthly rent roll. 313 South 4th Street, a four-story walk-up spanning 6,000 sq. ft., houses 12 mixed-rate apartments. Meanwhile, 431 and 433 Wythe Avenue, totaling 8,800 sq. ft., comprise a pair of four-story buildings with 16 mixed-rate apartments and were constructed in 1920.
The transaction was orchestrated by Rosewood’s Ben Khakshoor, Reoven Elharar, and Alex Fuchs, acting on behalf of the seller and the buyer.
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Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate
Read MoreConnect CREDana Lowery of Edifice Management has acquired a multifamily portfolio in Williamsburg, comprising three multifamily buildings, from Gil Boosidan for $8.95 million. The buildings, located at 313 South 4th Street between Rodney and Keap Streets, and 431 and 433 Wythe Avenue between 8th and 9th Streets, were sold at a combined cap rate of …
The post Williamsburg MF Portfolio Sold for $9M appeared first on Connect CRE.