Updated Oct 29, 2024
Ken Cayre's Cayre Equities Acquires Industrial Property In Brooklyn For $23.5M
1260 Atlantic Avenue, Brooklyn, NY 11216
$23,500,000
$255/SF
Building Size
92,000 SF
Asset Type
Industrial
Closing
Feb 16, 2019
About this deal
AI
An industrial property located at 1260 Atlantic Avenue in Brooklyn was recently sold in one of the largest industrial sales in Central Brooklyn. The property spans approximately 92,000 square feet and was sold for a total price of $23,500,000, resulting in a price per square foot of $255.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $23,500,000
- Address: 1260 Atlantic Avenue, Brooklyn
- Market: Brooklyn
The seller of the property was Louis Srybnik, while the buyer was Ken Cayre of Cayre Equities / Treasure Island. The deal was facilitated by Jakub Nowak and Jason Grunberg, who represented the buyer as brokers from Nowak & Partners of Marcus & Millichap.
It is worth noting that this transaction involved Ken Cayre, who is known for his involvement in Cayre Equities and Treasure Island.
On the Map
$23,500,000
$255/SF
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
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93