Al Messina Acquires Industrial Property In Brooklyn For $4M With Brokers Mathew Diana & Michael Makris
1002 Alabama Avenue
$4,000,000
$200/SF
Building Size
20,000 SF
Asset Type
Industrial
Closing
Oct 12, 2023
AI
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
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93