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268 Bergen Street

Goose Property Management Acquires Development Site In Boerum Hill For $40M
SOLDDevelopment Site

Goose Property Management Acquires Development Site In Boerum Hill For $40M

268 Bergen Street

$40,000,000

Building Size

Asset Type

Development Site

Closing

Apr 1, 2024

AI

268 Bergen Street in Boerum Hill, Brooklyn, was the subject of a recent real estate transaction. The development site spanning 238,000 square feet was sold for $40,000,000, equating to a price per square foot of $168. The deal involved Goose Property Management as the buyer and Dillon Realty Interests as the seller.

Summary of transaction details:

The deal was facilitated by the brokers from JLL - Michael Mazzara, Brendan Maddigan, Ethan Stanton, and Winfield Clifford. These professionals played a crucial role in connecting the buyer and the seller, contributing to the successful closure of the transaction.

Players

Brendan Maddigan

JLL

Broker

$4.7B

vol

127 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

0.40%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93