Updated Oct 28, 2024
EMP Capital Group Acquires Industrial Property In Crown Heights For $14M
1035 Pacific Street, Brooklyn, New York 11238, United States
$14,000,000
$501/SF
Building Size
27,915 SF
Asset Type
Industrial
Closing
Apr 11, 2022
About this deal
AI
The industrial property located at 1035 Pacific Street & 1034-1042 Atlantic Avenue in Crown Heights has been sold for a total of $14,000,000. The property spans across 27,915 square feet, resulting in a price per square foot of $501. The sale took place on April 12, 2022, and the transaction involved the buyer, EMP Capital Group, and the seller, Cheung Ming Lee.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $14,000,000
- Square Footage: 27,915 sqft
- Price per Square Foot: $501
- Address: 1035 Pacific Street & 1034-1042 Atlantic Avenue
- Market: Crown Heights
EMP Capital Group, represented by their broker Elie Pariente, purchased the industrial property from Cheung Ming Lee. This transaction demonstrates a significant investment in the Crown Heights industrial market.
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Deal FAQ
Browse New York industrial sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93