ErraCRG Acquires Industrial Property In East Williamsburg For $18.2M
SOLD
$18,175,000
New York
See Similar DealsIndustrial84,630 SF
Sold 06/10/2020
SOLD
ErraCRG Acquires Industrial Property In East Williamsburg For $18.2M
1301 Metropolitan Ave, East Williamsburg, Brooklyn, NY, USA
See Similar DealsIndustrial84,630 SF
Sold 06/10/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$214
Total Square Footage:84,630 SF
Transaction Type:Sale
Located at 1301 Metropolitan Ave in East Williamsburg, this industrial property recently sold for a price of $18,175,000. The transaction took place on 06/10/2021 and involved an asset with a total square footage of 84,630. The sale price of $18,175,000 translates to a price per square foot of $214.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $18,175,000
- Address: 1301 Metropolitan Ave
- Market: East Williamsburg
The sale was facilitated by the brokers Dan Marks, Daniel Lebor, and Robert Finnerty from erraCRG.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$969,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$64,571.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,158.77
Annual Debt Service$1,033,905.27
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