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
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