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189 1st Street, Brooklyn, N...

ErraCRG, He_Nowak_Group, And Thomas Cordasco Facilitate $3.7M Industrial Property Sale In Gowanus, Brooklyn
SOLDIndustrial

ErraCRG, He_Nowak_Group, And Thomas Cordasco Facilitate $3.7M Industrial Property Sale In Gowanus, Brooklyn

189 1st Street, Brooklyn, NY 11215

$3,748,500

$561/SF

Building Size

6,680 SF

Asset Type

Industrial

Closing

Jun 10, 2020

AI

Located in Gowanus, Brooklyn, the industrial property at 189 1st Street recently changed hands in a closed transaction. The deal was facilitated by brokers Dan Marks, Daniel Lebor, Adam Tannenbaum from erraCRG, Jakub Nowak from The Nowak Group at Marcus & Millichap NY, and Thomas Cordasco. The transaction took place on June 10, 2021.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $3,748,500
  • Address: 189 1st Street, Gowanus, Brooklyn
  • Square Footage: 6,680
  • Price per Square Foot: $561

The property offers ample space for industrial activities with its 6,680 square feet area. The transaction price for the asset was $3,748,500, resulting in a price per square foot of $561. This indicates a fair market value for the property in Gowanus, Brooklyn.

A group of experienced brokers played a role in this successful sale. Dan Marks, Daniel Lebor, and Adam Tannenbaum from erraCRG, along with Jakub Nowak from The Nowak Group at Marcus & Millichap NY, and Thomas Cordasco, worked diligently to close the deal. Their combined expertise and knowledge in the real estate market were instrumental in facilitating this transaction.

Players

Adam Tannenbaum

Terra CRG

Broker

$64.4M

vol

7 deals

Broker

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

4.23%

Cash-on-Cash

-1.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93