Updated Sep 30, 2025
Brookfield Properties Acquires Industrial Property In Crown Heights For $17.9M
1956 Atlantic Avenue, Brooklyn, New York 11233, United States
$17,900,000
$305/SF
Building Size
58,600 SF
Asset Type
Industrial
Closing
Aug 9, 2022
About this deal
AI
Brookfield Properties has acquired an industrial property located at 1956 Atlantic Avenue in Crown Heights, according to public records. The property, which spans approximately 58,600 square feet, was sold by Urban Storage Fund for a total price of $17,900,000. This translates to a price per square foot of $305.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $17,900,000
- Address: 1956 Atlantic Avenue
- Market: Crown Heights
- Buyer: Brookfield Properties
- Seller: Urban Storage Fund
The deal was finalized on August 10, 2022. Brian Kingston captured the image associated with the transaction.
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
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93