Storage Deluxe Acquires Development Site In East Williamsburg For $14.6M
74 Bogart Street, Brooklyn, New York 11206, United States
$14,600,000
$91/SF
Building Size
160,000 SF
Asset Type
Development Site
Closing
Jul 11, 2022
AI
Storage Deluxe has acquired a development site in East Williamsburg for $14,600,000. The property, located at 74 Bogart Street, has a total square footage of 160,000. The buyer purchased the asset from NexPoint Storage Partners. The transaction took place on July 12, 2022.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $14,600,000
- Address: 74 Bogart Street, East Williamsburg
- Seller: NexPoint Storage Partners
- Buyer: Storage Deluxe
- Market: East Williamsburg
- BSF: 160,000
- PPBSF: $90
The buyer, Storage Deluxe, made the transaction through their representative, Steven J. Guttman, Nicholas S. Coslov, and Steven Novenstein. The seller, NexPoint Storage Partners, was represented by their own representative. The deal marks a significant investment for Storage Deluxe in the East Williamsburg market.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93