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Al Messina Acquires Industrial Property In Brooklyn For $4M With Brokers Mathew Diana & Michael Makris

Property Image
SOLD
$4,000,000

New York

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Industrial20,000 SF
Sold 10/12/2023
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Property Image
SOLD

Al Messina Acquires Industrial Property In Brooklyn For $4M With Brokers Mathew Diana & Michael Makris

1002 Alabama Avenue

See Similar Deals
Industrial20,000 SF
Sold 10/12/2023
Contact now

Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$200
Total Square Footage:20,000 SF
Transaction Type:Sale

The industrial property located at 1002 Alabama Avenue in Brooklyn has been sold for a price of $4,000,000. The property spans approximately 20,000 square feet, with a price per square foot of $200. Mathew Diana and Michael Makris from DY Realty Group represented both the buyer and the seller in this transaction.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $4,000,000
  • Address: 1002 Alabama Avenue, Brooklyn
  • Market: Brooklyn
  • Buyer: Al Messina
  • Brokers: Mathew Diana & Michael Makris - DY Realty Group

DY Realty Group, known for its expertise in industrial asset sales and leasing, successfully facilitated this deal. The company specializes in meeting the needs of clients and customers, offering a wide range of industrial properties. If you are looking for new space or would like a complimentary valuation of your sale or lease property, you can contact Mat Diana at 718-729-7474. Additionally, DY Realty Group is currently conducting confidential interviews for qualified candidates interested in a career in commercial real estate.

Players

Mathew (Mat) Diana
19 deals$415.6M volume
BROKER

Michael Makris
DY Realty Group
3 deals$12.6M volume
BROKER

Details

SOLD
IMAGE: Mathew Diana & Michael Makris DATE: 10/12/2023 ADDRESS: 1002 Alabama Avenue MARKET: Brooklyn ASSET TYPE: Industrial BUYER: Al Messina BROKERS: Mathew Diana & Michael Makris (@NYC.Industrial.RE) - DY Realty Group (@DYRealtyGroup) SALE PRICE: $4,000,000 SF: 20,000 ~ PPSF: $200 NOTE FROM BROKER: DY Realty does it once again! DY specializes in the sales and leasing of all types of industrial assets, both small and large. Our goal is to service our clients and customers. If you have a requirement for new space or would like a complimentary sale or lease property valuation, feel free to call Mat Diana at 718-729-7474. If you're interested in a career in commercial real estate, DY Realty Group is currently interviewing qualified candidates. All conversations will be kept confidential.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$213,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49