Harvey M. Schwartz Of Carlyle Group Acquires Industrial Asset From Kenneth Cayre For $50M
1 19 Remsen Avenue
$50,000,000
$448/SF
Building Size
111,391 SF
Asset Type
Industrial
Closing
Mar 26, 2025
AI
An industrial property located at 1-19 Remsen Avenue in East Flatbush, Brooklyn, has been sold for $50,000,000. The asset has a total square footage of 111,391 and a price per square foot of $449.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $50,000,000
- Buyer: Harvey M. Schwartz - Carlyle Group
- Seller: Kenneth Cayre - Cayre Equities
- Sale Date: March 26, 2025
- Recording Date: April 8, 2025
- Asset Location: 1-19 Remsen Avenue, East Flatbush, Brooklyn
- Square Footage: 111,391
- Price Per Square Foot: $449
Carlyle Group, through 25 Remsen Avenue Owner LLC, completed the acquisition from Cayre Equities. The transaction reflects a significant investment in the industrial sector within the East Flatbush market.
Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93