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127 Kent Avenue

Anthony Malkin Of Empire State Realty Trust Acquires Commercial Condo From Judy Minster For $46M
SOLDCondo

Anthony Malkin Of Empire State Realty Trust Acquires Commercial Condo From Judy Minster For $46M

127 Kent Avenue

$46,000,000

$2,149/SF

Building Size

21,400 SF

Asset Type

Condo

Closing

Apr 3, 2026

AI

A commercial condo located at 127 Kent Avenue in Williamsburg has been sold for $46 million. The property encompasses a total of 21,400 square feet, resulting in a price per square foot of $2,150. This transaction marks a significant deal within the New York City commercial real estate market.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $46,000,000
  • Address: 127 Kent Avenue
  • Market: Williamsburg
  • Square Footage: 21,400
  • Price per Square Foot: $2,150
  • Buyer: Anthony Malkin - Empire State Realty Trust
  • Seller: Judy Minster - Joyland Group & Prospect Developers

Anthony Malkin represented Empire State Realty Trust in this transaction, while Judy Minster represented a partnership between Joyland Group and Prospect Developers, facilitating the sale of this premium commercial asset.

Players

Empire State Realty Trust
Empire State Realty TrustBuyer
Prospect Developers II
Prospect Developers IISeller

Brooklyn Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.34%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93