Delshah Capital Acquires Mixed-Use Property In Downtown Brooklyn For $134M
SOLD
$134,000,000
+ 4
Massachusetts
See Similar DealsMixed-use170 SF
Sold 08/31/2022
SOLD
Delshah Capital Acquires Mixed-Use Property In Downtown Brooklyn For $134M
22 Chapel Street
See Similar DealsMixed-use170 SF
Sold 08/31/2022
+ 4
Summary
MASSACHUSETTS
Asset Type:Mixed-use
Price Per Square Foot:$788,235
Total Square Footage:170 SF
Transaction Type:Sale
A mixed-use property located at 22 Chapel St. in Downtown Brooklyn has been sold for a total price of $134,000,000. The transaction took place on 08/31/2022. The property spans a total area of 170,743 square feet, resulting in a price per square foot of $784. The deal was facilitated by Delshah Capital as the buyer. The property is situated in the Downtown Brooklyn market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $134,000,000
- Square Footage: 170,743
- Price per Square Foot: $784
- Address: 22 Chapel St.
- Market: Downtown Brooklyn
The sale of the property was handled by JLL, with Hall Oster, Stephen Palmese, Rob Hinckley, Jeff Julien, Bob Knakal, Ethan Stanton, and Braedon Gait representing the seller. They acted as the seller's representatives in the deal.
Players
BUYER
Details
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,146,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$476,073.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$635,228.36
Annual Debt Service$7,622,740.36
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