facebook
Traded Co logo
Submit
Daily limit: 0/10

Douglaston Development Acquires Development Site In Bedford Stuyvesant, Brooklyn For $65M

Property Image
SOLD
$65,000,000
Lee Brodsky
JR

New York

See Similar Deals
Development Site397,252 SF
Sold 05/26/2023
the dealplayerscompscontact
Property Image
SOLD

Douglaston Development Acquires Development Site In Bedford Stuyvesant, Brooklyn For $65M

1045 Atlantic Ave Brooklyn, NY 11238, USA

See Similar Deals
Development Site397,252 SF
Sold 05/26/2023
Lee Brodsky
JR
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$163
Total Square Footage:397,252 SF
Transaction Type:Sale

Douglaston Development has acquired a development site at 1045 Atlantic Avenue in Bedford Stuyvesant, Brooklyn. The property, purchased for $65 million, was sold by BEB Capital, which is affiliated with Lee J. Brodsky, Ofer Cohen, Tucker Reed, and Vivian Liao through AI One Holdco LLC. The industrial building spans 397,252 square feet, resulting in a price per square foot of $164.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $65,000,000
  • Address: 1045 Atlantic Avenue, Bedford Stuyvesant, Brooklyn
  • Buyer: Douglaston Development - Jed Resnick
  • Seller: BEB Capital - Lee J. Brodsky, Ofer Cohen & Tucker Reed
  • Market: Bedford Stuyvesant, Brooklyn

In this transaction, Douglaston Development, represented by Jed Resnick, acquired the development site from BEB Capital, represented by Lee J. Brodsky, Ofer Cohen, and Tucker Reed. The sale of the industrial building was completed on May 26, 2023, for a total price of $65 million.

Players

Lee Brodsky
BEB Capital
Lee Brodsky
23 deals$301.8M volume
BROKER
JR
Douglaston Development
Jed Resnick
3 deals$302.5M volume
BUYER
Lee Brodsky
BEB Capital
Lee Brodsky
23 deals$301.8M volume
SELLER
BEB Capital
BEB Capital
SELLER
BEB Capital
BEB Capital
SELLER
BEB Capital
BEB Capital
LENDER

Details

SOLD
IMAGE: Lee J. Brodsky, Jed Resnick, Ofer Cohen & Tucker Reed DATE: 05/26/2023 ADDRESS: 1045 Atlantic Avenue MARKET: Bedford Stuyvesant, Brooklyn ASSET TYPE: Development Site BUYER: Douglaston Development - Jed Resnick SELLER: BEB Capital - Lee J. Brodsky, Ofer Cohen & Tucker Reed SALE PRICE: $65,000,000 SF: 397,252 ~ PPSF: $164 NOTE: Douglaston Development purchased the industrial building (F9) located at 1045 Atlantic Avenue in Bedford Stuyvesant, Brooklyn, for $65 million from BEB Capital, which is affiliated with Ofer Cohen, Tucker Reed, and Vivian Liao through AI One Holdco LLC.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,466,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$230,931.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$308,133.16
Annual Debt Service$3,697,597.94