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
About this deal
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.
On the Map
$46,000,000
$2,149/SF
Condo
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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