Updated Dec 4, 2024
Acquires Industrial Property In Bushwick For $6.75M
1288 Willoughby Avenue, 1292 Willoughby Avenue, 1294 Willoughby Avenue, 1282 Willoughby Avenue & 373 Suydam Street
$6,750,000
$67/SF
Building Size
20,000 SF
Asset Type
Industrial
Closing
Mar 14, 2024
About this deal
AI
An industrial property located at 1288, 1292, 1294 & 1282 Willoughby Avenue & 373 Suydam Street in Bushwick, Brooklyn, was recently sold for $6,750,000. The total square footage of this property is 20,000, with a price per square foot of $338. The warehouse within the property spans across 13,825 square feet.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $6,750,000
- Address: 1288, 1292, 1294 & 1282 Willoughby Avenue & 373 Suydam Street, Bushwick, Brooklyn
- Market: Bushwick, Brooklyn
- Buyer:
- Seller: Dronacharje Balgobin
- Broker: Greg Ngo - Oxford Property Group
- Square Footage: 20,000
- Price Per Square Foot: $338
- Warehouse Square Footage: 13,825
The transaction was facilitated by the real estate broker, Greg Ngo, representing Oxford Property Group. The buyer, , acquired the property from the seller, Dronacharje Balgobin, in this industrial real estate deal.
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
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93