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240 Gold St, Brooklyn, NY, ...

$60 Million Sale Of 240 Gold St Brooklyn With Seller's Reps Charles Kingsley And Jon Epstein
SOLDDevelopment Site

$60 Million Sale Of 240 Gold St Brooklyn With Seller's Reps Charles Kingsley And Jon Epstein

240 Gold St, Brooklyn, NY, 11201

$60,000,000

$2,229/SF

Building Size

26,916 SF

Asset Type

Development Site

Closing

Nov 19, 2023

AI

A vacant development site located at 240 Gold St, Brooklyn, NY was sold for $60,000,000.00. The parcel encompasses 26,916 square feet and was previously utilized as a parking lot. The property is situated in the DUMBO neighborhood of Brooklyn, which is a notable area due to its proximity to the Manhattan Bridge.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $60,000,000.00
  • Address: 240 Gold St, Brooklyn, NY 11201
  • Market: Brooklyn
  • Seller's Representative: Charles (Chas) Kingsley, Jon Epstein - Avison Young
  • Buyer: Unknown
  • Square Footage: 26,916

The transaction was facilitated by Vincent Carrega, Neil Helman, and Charles Kingsley, along with Jon Epstein, who represented the seller, 240 Gold Street Realty Holdings LLC. The identity of the buyer remains undisclosed.

Players

Neil Helman

Avison Young

Broker

$308.7M

vol

4 deals

Broker

Brooklyn Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.26%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93