Updated Sep 9, 2024
Boris Motovich Acquires Industrial Property In Brooklyn For $7.5M
140 53rd Street, Brooklyn, NY, USA
$7,500,000
$148/SF
Building Size
50,476 SF
Asset Type
Industrial
Closing
Dec 2, 2020
About this deal
AI
A industrial property located at 140 53rd Street in Brooklyn was recently sold. The property has a zoning classification of M3-1 and covers a lot size of 126.17 ft x 200.33 ft. The transaction took place on 12/03/2020, involving a sale price of $7,500,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,500,000
- Address: 140 53rd Street, Brooklyn
- Market: Brooklyn
- Buyer: Boris Motovich
- Seller: Estate of Simon Louis Srybnik
- Brokers: Jakub Nowak & Jake Torre he_Nowak_Group
The property was purchased by Boris Motovich from the Estate of Simon Louis Srybnik. The transaction was facilitated by brokers Jakub Nowak and Jake Torre from The Nowak Group.
It is worth noting that the sale was closed on the same day as the contract signing, without undergoing an environmental inspection. The purchaser assumed ongoing tenant litigation as part of the agreement.
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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93