Terreno Realty Group Acquires Industrial Property In East Williamsburg, Brooklyn For $80.5M
SOLD
$80,500,000
New York
See Similar DealsIndustrial193,000 SF
Sold 08/21/2019
SOLD
Terreno Realty Group Acquires Industrial Property In East Williamsburg, Brooklyn For $80.5M
134 Morgan Avenue, Brooklyn, NY 11206, USA
See Similar DealsIndustrial193,000 SF
Sold 08/21/2019
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$417
Total Square Footage:193,000 SF
Transaction Type:Sale
An industrial property located at 134 - 154 Morgan Avenue in East Williamsburg, Brooklyn was recently sold in a closed transaction. The property spans across 193,000 square feet and is situated in the East Williamsburg market.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $80,500,000
- Square Footage: 193,000
- Price per Square Foot: $417
- Address: 134 - 154 Morgan Avenue
- Market: East Williamsburg, Brooklyn
The seller of the property was Fred Carillo. The buyer, on the other hand, was Terreno Realty Group, represented by W. Blake Baird. The deal was facilitated by brokers Mathew Diana and Peter Derbar from DY Realty Group.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,293,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$285,999.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$381,611.07
Annual Debt Service$4,579,332.83
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