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.