Updated Oct 29, 2024
CenterPoint Properties Acquires Industrial Asset On Foster Ave, Brooklyn For $925,411
103 Foster Ave, Brooklyn, NY, 11230
Building Size
925,411 SF
Asset Type
Industrial
Closing
Nov 20, 2023
About this deal
AI
The Flatlands Portfolio, a 925,411-square-foot industrial portfolio, has been acquired by CenterPoint Properties in Brooklyn. The portfolio consists of three buildings located at 101-01 Ave. D, 103-00 Foster Ave., and 101-10 Foster Ave., along with a one-acre lot situated between Avenue D and Foster Avenue on East 105th Street. The buildings offer clear heights ranging from 22 to 32 feet and were fully leased to 13 tenants at the time of sale.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 103 Foster Ave, Brooklyn, NY, 11230
- Market: Brooklyn
- SF: 925411
- Seller's Rep: Mathew (Mat) Diana(DY Realty Group), Peter Derbar(DY Realty Group)
- Buyer: CenterPoint Properties
Mat Diana, Paul Yuras, and Peter Derbar of DY Realty Group represented the undisclosed seller in the transaction and will continue to represent CenterPoint moving forward in leasing the portfolio.
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