Murray Mccabe Of Ground Lease REIT Acquires Industrial Assets In Brooklyn For $9.45M
1027 Dean Street
$9,450,000
$1,485/SF
Building Size
6,360 SF
Asset Type
Industrial
Closing
May 4, 2026
AI
The transaction involved two industrial assets located at 1027 Dean Street and 1029-33 Dean Street in Brooklyn. The properties have a total square footage of 6,360 and were sold for a total amount of $9,450,000, reflecting a price per square foot of approximately $1,486.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $9,450,000
- Buyer: Murray Mccabe - Ground Lease REIT
- Seller: Justin James Lee
- Total Square Footage: 6,360
- Price Per Square Foot: $1,486
- Market: Brooklyn
Murray Mccabe's Ground Lease REIT completed the acquisition of the properties from Justin James Lee, representing a strategic investment in the industrial market. The deal underscores the ongoing demand for industrial assets in the Brooklyn area.
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
1.68%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93