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.
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
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93