$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
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