Updated Dec 4, 2024
Safdiah Family Sells Industrial Asset In Sunset Park, Brooklyn For $7.75M
129 31st Street
$7,750,000
$516/SF
Building Size
15,000 SF
Asset Type
Industrial
Closing
Mar 21, 2024
About this deal
AI
The industrial property located at 129 31st Street in Sunset Park, Brooklyn, was recently sold for $7,750,000. Spanning 15,000 square feet, the property was acquired at a rate of $517 per square foot in an all-cash transaction.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,750,000
- Address: 129 31st Street
- Market: Sunset Park, Brooklyn
- Seller: Safdiah Family
- Brokers: Jake Torre, Jason Grunberg & Charles Everett - SAB Capital
- Square Footage: 15,000
- Price per Square Foot: $517
Jake Torre, Jason Grunberg, and Charles Everett of SAB Capital successfully closed the deal on this industrial property. With a robust marketing strategy, they were able to facilitate 18 tours of the property and received 8 written offers. The buyer, identified as a local end-user, finalized the purchase at $7,750,000 in an all-cash, non-contingent deal.
On the Map
$7,750,000
$516/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
2.05%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93