Updated Dec 4, 2024
Two Trees Management Acquires 240K SF Industrial Property In Brooklyn For $62M
1, 1-37 12th St, Brooklyn, NY 11215, USA
Building Size
2,400,000 SF
Asset Type
Industrial
Closing
May 30, 2018
About this deal
AI
The industrial property located at 1-37 12th Street in Brooklyn, New York has been sold in a closed transaction for $62,000,000. The property spans 240,000 square feet and has a price per square foot of $201.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $62,000,000
- Size: 240,000 sf
- Price per Square Foot: $201
- Address: 1-37 12th Street, Brooklyn, New York
- Market: Brooklyn
The seller of the property is Team Slope LLC, a joint venture between Meral Property Group and Joyland Group. The buyer in this transaction is Two Trees Management Company, represented by Jed Walentas. The deal was facilitated by brokers Ofer Cohen, Daniel Lebor, and Dan Marks.
On the Map
Industrial
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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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93