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170 2nd Avenue

Estate Of Mardig Kachian Sells Industrial Property At 170 2nd Avenue Brooklyn For $5.76M
SOLDIndustrial

Estate Of Mardig Kachian Sells Industrial Property At 170 2nd Avenue Brooklyn For $5.76M

170 2nd Avenue

$5,760,000

$412/SF

Building Size

13,968 SF

Asset Type

Industrial

Closing

Sep 25, 2024

AI

The property asset involved in this transaction is an industrial building located at 170 2nd Avenue, Brooklyn. The sale price of the asset was $5,760,000, covering a total area of 13,968 square feet, resulting in a price per square foot of $412.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $5,760,000
  • Address: 170 2nd Avenue
  • Market: Brooklyn
  • Seller: Estate of Mardig Kachian
  • Buyer's Representative: Nathan Horne
  • Seller's Representatives: Paul Massey - B6 Real Estate Advisors & Bobby Lawrence - Matthews Real Estate Investment Services
  • Square Footage: 13,968
  • Price Per Square Foot: $412

The key individuals involved in this transaction include Nathan Horne, representing the buyer, and Paul Massey along with Bobby Lawrence representing the seller. This transaction reflects the collaboration of multiple real estate professionals, highlighting their roles in facilitating this sale.

Players

Bobby Lawrence

Matthews

Broker

$80.7M

vol

25 deals

Broker
Nathan Horne
Verified Badge

Nathan Horne

Compass

Broker

$211.7M

vol

27 deals

Broker

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

2.75%

Cash-on-Cash

-0.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93