Updated Dec 20, 2023
Chaim Fuchs Acquires Industrial Property In Bedford-Stuyvesant, Brooklyn For $4.25M
17 Herkimer St, Brooklyn, NY 11216, USA
$4,250,000
$38/SF
Building Size
110,100 SF
Asset Type
Industrial
Closing
Nov 24, 2019
About this deal
AI
Located in Bedford-Stuyvesant, Brooklyn, the industrial property at 17-27 Herkimer Street was recently sold for a total of $4,250,000. Spanning an area of 11,010 square feet, this asset was purchased by Chaim Fuchs from Saul Rosenberg. With a price per square foot of $386, this transaction signifies a significant investment in the industrial market of this desirable Brooklyn neighborhood.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,250,000
- Square Footage: 11,010
- Price per Square Foot: $386
- Address: 17-27 Herkimer Street, Brooklyn
- Market: Bedford-Stuyvesant
Leading the transaction were brokers Jason Grunberg and Jakub Nowak from Marcus & Millichap representing the buyer and seller respectively. Their expertise in the industrial market played a crucial role in successfully closing the deal. The involvement of these experienced brokers highlights the importance of having trusted representatives in complex property transactions.
On the Map
$4,250,000
$38/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
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93