The Sella Family Buys Industrial Property On 27th Street In Sunset Park
179 27th Street
$750,000
$375/SF
Building Size
2,000 SF
Asset Type
Industrial
Closing
Feb 22, 2024
AI
The industrial property located at 179 27th Street in Sunset Park was sold in a transaction amounting to $750,000. Spanning 2,000 square feet, the asset was acquired by The Sella Family from the seller, Moey Inc., in an all-cash deal facilitated by brokers Jake Torre and Jason Grunberg of SAB Capital. The price per square foot for this property equated to $375.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $750,000
- Address: 179 27th Street
- Market: Sunset Park
- Buyer: The Sella Family
- Seller: Moey Inc.
- Brokers: Jake Torre & Jason Grunberg - SAB Capital
- Square Footage: 2,000
- Price per Square Foot: $375
The site sale was concluded swiftly within 30 days of the contract signing, with a total of 12 written offers generated by the brokers in just a few weeks of marketing. Jake Torre and Jason Grunberg invite interested parties to reach out for discussions regarding any current on/off market listings available through their team.
Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
21.15%
Cash-on-Cash
-6.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93