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:
- Property Type: Development Site
- Transaction Amount: $40,000,000
- Address: 268 Bergen Street
- Market: Boerum Hill, Brooklyn
- Brokers: Michael Mazzara, Brendan Maddigan, Ethan Stanton & Winfield Clifford - JLL
- BSF: 238,000
- PPBSF: $168
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
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