RedSky Capital Acquires Commercial Property In Downtown Brooklyn For $14.5M
SOLD
$14,500,000
+ 1
New York
See Similar DealsCommercial10,600 SF
Sold 09/06/2018
SOLD
RedSky Capital Acquires Commercial Property In Downtown Brooklyn For $14.5M
571 Fulton Street, Brooklyn, NY 11201
See Similar DealsCommercial10,600 SF
Sold 09/06/2018
+ 1
Summary
NEW YORK
Asset Type:Commercial
Price Per Square Foot:$1,367
Total Square Footage:10,600 SF
Transaction Type:Sale
RedSky Capital has acquired a commercial property located at 571 Fulton Street in Downtown Brooklyn, in a closed transaction that took place on September 6, 2018. The property was sold by Reliance Trust Company for a total price of $14,500,000, with a price per square foot of $1,365.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $14,500,000
- Address: 571 Fulton Street, Downtown Brooklyn
- Buyer: RedSky Capital
- Seller: Reliance Trust Company
- Brokers: Ofer Cohen, Dan Marks, Daniel Lebor, Mike Hernandez from @terracrg
Ofer Cohen, Dan Marks, Daniel Lebor, and Mike Hernandez, representing @terracrg, played a key role in facilitating the transaction as brokers for both the buyer and the seller.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$773,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$51,515.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,737.40
Annual Debt Service$824,848.77
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