Updated Dec 4, 2024
Shaun Gerrick Acquires Industrial Property In Brooklyn For $1.2M
1400 Utica Avenue
$1,200,000
$300/SF
Building Size
4,000 SF
Asset Type
Industrial
Closing
Apr 26, 2023
About this deal
AI
The industrial property located at 1400 Utica Avenue in Brooklyn has been sold. The property spans 4,000 square feet and was sold for a total price of $1,200,000, translating to a price per square foot of $300. The transaction took place on April 26, 2023.
Summary of Transaction Details:
- Property Type: Industrial
- Transaction Amount: $1,200,000
- Address: 1400 Utica Avenue, Brooklyn
- Market: Brooklyn
Shaun Gerrick has purchased the property from Lillian Giacobbe. The sale was facilitated by Thomas Higgins of Douglas Elliman acting as the broker in the transaction.
On the Map
$1,200,000
$300/SF
Industrial
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Players
Brooklyn 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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93