Bruce Engel Sells Industrial Property In Brooklyn For $4.15M With Brokers Jakub Nowak, Jason Moskowitz & Jason Grunberg
SOLD
$4,150,000
New York
See Similar DealsIndustrial10,000 SF
Sold 05/05/2021
SOLD
Bruce Engel Sells Industrial Property In Brooklyn For $4.15M With Brokers Jakub Nowak, Jason Moskowitz & Jason Grunberg
171 Morgan Avenue, Brooklyn, NY, USA
See Similar DealsIndustrial10,000 SF
Sold 05/05/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$415
Total Square Footage:10,000 SF
Transaction Type:Sale
The industrial property located at 171 Morgan Avenue in Brooklyn has been sold. The sale took place on May 5, 2021. The property spans approximately 10,000 square feet with a price per square foot of $415. The total sale price for the property was $4,150,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,150,000
- Address: 171 Morgan Avenue, Brooklyn
- Market: Brooklyn
The seller of the property was Bruce Engel. The transaction was facilitated by Jakub Nowak, Jason Moskowitz, and Jason Grunberg from The_Nowak_Group at arcusMillichap_NY.
For more information about the market or to get a confidential valuation of your property or portfolio, you can contact Jakub Nowak at 718-475-4353, Jason Moskowitz at 718-475-4387, or Jason Grunberg at 718-475-4390.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$221,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,744.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,673.12
Annual Debt Service$236,077.41
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