Bushwack Capital Acquires Industrial Property In Williamsburg For $14M
SOLD
$14,000,000
New York
See Similar DealsIndustrial99,700 SF
Sold 05/03/2020
SOLD
Bushwack Capital Acquires Industrial Property In Williamsburg For $14M
154 Scott Avenue, East Williamsburg, Brooklyn, NY, USA
See Similar DealsIndustrial99,700 SF
Sold 05/03/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$140
Total Square Footage:99,700 SF
Transaction Type:Sale
The industrial property located at 154 Scott Avenue in Williamsburg has been sold in a transaction that took place on May 3, 2021. The property, spanning a total of 99,700 square feet, was sold for a price of $14,000,000, resulting in a price per square foot of $140. The previous sale of the property occurred in May 2018 for a price of $10,000,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $14,000,000
- Address: 154 Scott Avenue
- Market: Williamsburg
- Square Footage: 99,700
- Price per Square Foot: $140
- Last Sale: $10,000,000 (5/2018)
The buyer of the property is Bushwack Capital, represented by Dawson Stellberger. The seller is Lai Tin Yam. The transaction involved a loan from Citi Group in the amount of $22,000,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$746,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71
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