Eric Mann through the entity 157-159 Wythe Avenue Owner LLC paid David Manheimer’s 157-159 Wythe Avenue, LLC $8.5 million for 1 parcel, including the tax class multifamily, five to six families (C2) and containing 6 residential units at 159 Wythe Avenue in Williamsburg. The deal closed on July 24, 2019 and was recorded on July 31, 2019. The parcel(s) have total development potential of 9,838 square feet.
The average sale price per square foot is $950.
The estimated cap rate is 1.6%
The last time the property sold was December 07, 2015, for $8,000,000.
Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,144,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $726,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link