Rosewood Realty Group has brokered the $9 million sale of two contiguous multifamily buildings in Williamsburg, Brooklyn in an off-market deal.
The buildings, located at 251-253 North 8th Street (between Havemeyer and Roebling Streets), are two, four story walk-up properties with 16 total apartments. The total 13,000 sq. ft. buildings were built in 1900, and also have a combined 2,000 sq. ft. of air rights.
The package sold for a cap rate of 3.85%, at $562,500 per unit.
Rosewood’s Mike Kerwin and Shaun Rose represented the buyer, Peak Capital Advisors, a NYC real estate investment firm founded in 2017 by Alex Rabin and David Gomez. The company focuses on value-add multifamily buildings in a NYC. They presently own 49 buildings in NYC.
Sarah Sawyer of the Sarah Sawyer Team at Compass represented the seller, a family office.
“The buildings are in a prime North Williamsburg location only a block from the L train,” said Kerwin. “The purchaser’s plan is to immediately rehab the properties.”
