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145 Wolcott Street

Updated Dec 4, 2024

Bain Capital & Bungalow Projects Acquire Industrial Property In Red Hook For $34M
SOLDDevelopment Site

Bain Capital & Bungalow Projects Acquire Industrial Property In Red Hook For $34M

145 Wolcott Street

$34,024,939

$425/SF

Building Size

80,000 SF

Asset Type

Development Site

Closing

Apr 29, 2024

About this deal

AI

An industrial property located at 145 Wolcott Street in Red Hook was recently sold for $34,024,939. The property spans 80,000 square feet, translating to a price per square foot of $425. Additionally, the building size is 225,000 square feet, amounting to a price per square foot of $151.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $34,024,939
  • Address: 145 Wolcott Street
  • Market: Red Hook

The sale was facilitated by brokers David Behin, Daniel O'Brien, and Caroline Hodes from Newmark. The buyers, Bain Capital & Bungalow Projects, acquired the property from the sellers, Four Points & 20 Lakes Holding, in this significant transaction.

On the Map

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$34,024,939

$425/SF

Development Site

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Players

Caroline Hodes

Newmark

Broker

$2B

vol

104 deals

Broker
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Brooklyn Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Deal FAQ

About $425 per square foot on a published $34M for 80,000 square feet (2024).

Visit Daniel (Dan) O'Brien to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.47%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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