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16-18 Whitwell Place

Jeff Jeppesen Acquires Industrial Property In Gowanus For $2.7M
SOLDIndustrial

Jeff Jeppesen Acquires Industrial Property In Gowanus For $2.7M

16-18 Whitwell Place

$2,700,000

$638/SF

Building Size

4,230 SF

Asset Type

Industrial

Closing

Jul 18, 2022

AI

The industrial property located at 16-18 Whitwell Pl. in Gowanus has been sold in a closed transaction. The property spans a total of 4,230 square feet and was sold at a price of $2,700,000, resulting in a price per square foot of $638.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $2,700,000
  • Square Footage: 4,230
  • Address: 16-18 Whitwell Pl.
  • Market: Gowanus

The buyer in this transaction is Jeff Jeppesen, represented by Charlotte Sardet from SINVIN Real Estate. On the other hand, the sellers are Ben Smuk and Eddie Vays. They were represented by Matt Fotis and Zachary Cohen from Marcus & Millichap.

Players

Matt Fotis

Marcus & Millichap

Broker

$609.4M

vol

112 deals

Broker

Ben Smuk

Seller

$10M

vol

3 deals

Seller

New York Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93