Jay Schippers Acquires Industrial Property In Sunset Park For $6.7M
SOLD
$6,700,000
New York
See Similar DealsIndustrial9,224 SF
Sold 07/09/2020
SOLD
Jay Schippers Acquires Industrial Property In Sunset Park For $6.7M
160 17th St, Brooklyn, NY 11215, USA
See Similar DealsIndustrial9,224 SF
Sold 07/09/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$726
Total Square Footage:9,224 SF
Transaction Type:Sale
Located in Sunset Park, the industrial property at 160 17th Street recently changed hands in a closed transaction. The property spans approximately 9,224 square feet and was sold for a total price of $6,700,000. With a price per square foot of $726, the building offers a total buildable square footage of 13,870.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $6,700,000
- Address: 160 17th Street
- Market: Sunset Park
- Square Footage: 9,224
- Price per Square Foot: $726
- Total Buildable Square Footage: 13,870
The buyer in this transaction is Jay Schippers, while the seller is Louis V. Greco Jr.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$357,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,803.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,761.42
Annual Debt Service$381,137.02
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