Updated Dec 4, 2024
Terra CRG Sells Industrial Asset At 7 Knickerbocker Avenue In East Williamsburg For $7M
7 Knickerbocker Avenue
$7,000,000
$701/SF
Building Size
9,974 SF
Asset Type
Industrial
Closing
Jul 10, 2024
About this deal
AI
This industrial asset, located at 7 Knickerbocker Avenue in East Williamsburg, Brooklyn, has a total square footage of 9,974 and was sold for $7,000,000, equating to a price per square foot of $702.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,000,000
- Square Footage: 9,974
- Price Per Square Foot: $702
- Address: 7 Knickerbocker Avenue
- Market: East Williamsburg, Brooklyn
- Brokers: Dan Marks, Daniel Lebor & Jackson O'Neill - Terra CRG
The transaction involved prominent brokers Dan Marks, Daniel Lebor, and Jackson O'Neill representing the deal through Terra CRG, managing the complexities of the industrial real estate market.
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Market Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93