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
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.
Players
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