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1296 Coney Island Avenue, B...

Yeshivah Of Flatbush Acquires Industrial Property In Midwood, Brooklyn For $13.5M
SOLDIndustrial

Yeshivah Of Flatbush Acquires Industrial Property In Midwood, Brooklyn For $13.5M

1296 Coney Island Avenue, Brooklyn, New York 11230, United States

$13,500,000

$600/SF

Building Size

22,500 SF

Asset Type

Industrial

Closing

Aug 2, 2022

AI

The industrial property located at 1296 Coney Island Avenue in Midwood, Brooklyn, was sold on August 3, 2022. The buyer, Yeshivah of Flatbush, acquired the property from seller Michael Katz for a total sale price of $13,500,000. The property has a total area of 22,500 square feet, resulting in a price per square foot of $600.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $13,500,000
  • Address: 1296 Coney Island Avenue, Midwood, Brooklyn
  • Buyer: Yeshivah of Flatbush
  • Seller: Michael Katz
  • Square Footage: 22,500
  • Price per Square Foot: $600

The sale involved Yeshivah of Flatbush as the buyer and Michael Katz as the seller. Both parties successfully concluded the transaction, resulting in the transfer of ownership of the industrial property at 1296 Coney Island Avenue in Midwood, Brooklyn.

Players

Michael Katz

Seller

$231.9M

vol

6 deals

Seller

New York 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

1.18%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93