Stenson of Brax Realty sells 8-unit <br>Williamsburg building for $8.5 million
Brooklyn, NY Alan Stenson, senior director of Brax Realty, negotiated the sale of 150 North 9th St. in Williamsburg for $8.5 million.
Situated in one of Williamsburg’s most sought-after neighborhoods, the building benefits from close proximity to the cultural, dining, and entertainment scenes. Located between Bedford Ave. and Berry St., it offers access to the L subway, a few blocks away.
The property is an eight-unit building, spanning 5,500 s/f. Each unit has modern finishes following a comprehensive gut renovation and with its designation under tax class 2B protection, the building benefits from capped increases to its real estate taxes.
Achieving a sale price of $1,545 per s/f, this sale reflects strong market confidence in Williamsburg’s real estate sector and the value of well-renovated, income-generating properties in the area.
Stenson said “This sale represents the strength of the Williamsburg market. We are thrilled to have facilitated a transaction that benefits both the seller and the buyer, and we remain committed to identifying and securing high-quality assets that meet the evolving needs of our clients.”