Brendan Maddigan Acquires Commercial Property In Columbia Street Waterfront District For $16.5M
129 Van Brunt Street, Brooklyn, New York 11231, United States
$16,500,000
$661/SF
Building Size
24,943 SF
Asset Type
Commercial
Closing
May 19, 2022
AI
The commercial property located at 129 Van Brunt Street & 42 President Street in the Columbia Street Waterfront District of Brooklyn has been sold. The property is zoned as M1-1 and spans a total of 24,943 square feet. The transaction took place on May 20, 2022, and the sale price of the property was $16,500,000. This equates to a price per square foot of $661. The buyer of the property is Brendan Maddigan, while the seller is Stephen Palmese.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $16,500,000
- Market: Columbia Street Waterfront District, Brooklyn
- Zoning: M1-1
Brendan Maddigan represented the buyer in this transaction.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93