Updated Dec 18, 2023
John Gerber Acquires Red Hook Warehouse In Brooklyn From Gregory Iovine For $21.5M
145 Wolcott Street, Red Hook, Brooklyn, NY, USA
$21,500,000
$268/SF
Building Size
80,000 SF
Asset Type
Industrial
Closing
Sep 9, 2019
About this deal
AI
The property involved in this transaction is a warehouse located at 145-165 Wolcott Street in Red Hook, Brooklyn. It was sold on September 10, 2019.
Summary of transaction details
- Property Type: Warehouse
- Transaction Amount: $21,500,000
- Address: 145-165 Wolcott Street, Red Hook, Brooklyn
- Square Footage: 80,000 SF
- Price per Square Foot: $268
- Building Square Footage: 135,000 BSF
- Price per Building Square Foot: $159
The buyer of the property is John Gerber, while the seller is Gregory Iovine. The deal was facilitated by Edward Beason and Frank Manzione of Manzione Real Estate.
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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93