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9036 7th Avenue, Brooklyn, ...

Allure Group Acquires Medical Office In Bay Ridge For $160M
SOLD

Allure Group Acquires Medical Office In Bay Ridge For $160M

9036 7th Avenue, Brooklyn, New York 11228, United States

$160,000,000

$901/SF

Building Size

177,455 SF

Asset Type

Closing

Jun 28, 2022

AI

A medical office located at 9036 7th Avenue in Bay Ridge has been sold for a staggering $160,000,000. The property, which was recently purchased, was part of a closed transaction.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: $160,000,000
  • Market: Bay Ridge
  • Address: 9036 7th Avenue

Allure Group, represented by Joel Landau, acted as the buyer in this deal. On the other side, Leser Group, with Abraham Leser as their representative, served as the seller in the transaction.

This significant sale marks a major milestone in the Bay Ridge market, showcasing the growing interest in medical office properties in the area. It also highlights the involvement of respected individuals from Allure Group, represented by Joel Landau, and Leser Group, represented by Abraham Leser, in the transaction.

Players

Joel Landau

Allure Group

Buyer

$242.8M

vol

3 deals

Buyer
LG
Leser GroupSeller

New York CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.10%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93