Yeshivah Of Flatbush Acquires Industrial Property In Midwood, Brooklyn For $13.5M
SOLD
$13,500,000
New York
See Similar DealsIndustrial22,500 SF
Sold 08/03/2022
SOLD
Yeshivah Of Flatbush Acquires Industrial Property In Midwood, Brooklyn For $13.5M
1296 Coney Island Avenue, Brooklyn, New York 11230, United States
See Similar DealsIndustrial22,500 SF
Sold 08/03/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$600
Total Square Footage:22,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$720,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,962.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,996.89
Annual Debt Service$767,962.65
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