CenterPoint Properties Acquires Industrial Properties In Flatlands, Brooklyn For $133M
SOLD
$133,025,000
+ 1
New York
See Similar DealsIndustrial9,254,110 SF
Sold 01/10/2020
SOLD
CenterPoint Properties Acquires Industrial Properties In Flatlands, Brooklyn For $133M
10110 Foster Ave, Brooklyn, NY 11236, USA
See Similar DealsIndustrial9,254,110 SF
Sold 01/10/2020
+ 1
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$14
Total Square Footage:9,254,110 SF
Transaction Type:Sale
A closed property transaction recently took place in Flatlands, Brooklyn. Located at 103-00 Foster Avenue, 101-10 Foster Avenue, and 101-01 Avenue D, the industrial property was involved in the deal. It spans a total square footage of 925,411 and was sold for a significant amount of $133,025,000. The price per square foot for this transaction was $143.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $133,025,000
- Square Footage: 925,411
- Price Per Square Foot: $143
- Market: Flatlands, Brooklyn
The seller in this transaction was Rentar Development, represented by Felice Bassin. Their buyer was CenterPoint Properties, with Bob Chapman representing them. The deal was facilitated by DY Realty Group's Paul J. Yuras, Mathew Diana, and Peter Derbar.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,094,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$472,609.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$630,606.37
Annual Debt Service$7,567,276.39
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