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Realterm Logistics Acquires Industrial Property In Brooklyn For $28M

Property Image
SOLD
$28,000,000

New York

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Industrial50,420 SF
Sold 11/06/2020
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Property Image
SOLD

Realterm Logistics Acquires Industrial Property In Brooklyn For $28M

209 Gardner Ave, Brooklyn, NY 11211, USA

See Similar Deals
Industrial50,420 SF
Sold 11/06/2020
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$555
Total Square Footage:50,420 SF
Transaction Type:Sale

A industrial property located at 209 Gardner Avenue in Brooklyn has been sold for a price of $28,000,000. The property has a building square footage (BSF) of 100,840 and a price per BSF (PPBSF) of $277. It also has a total square footage (SF) of 50,420 with a price per SF (PPSF) of $555. The property is zoned as M3-1, making it suitable for industrial use in the area.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $28,000,000
  • Address: 209 Gardner Avenue, Brooklyn
  • Market: Brooklyn
  • Zoning: M3-1
  • Building Square Footage (BSF): 100,840
  • Price per BSF (PPBSF): $277
  • Total Square Footage (SF): 50,420
  • Price per SF (PPSF): $555

The buyer in this transaction is Realterm Logistics, represented by Robert Fordi. The seller is Manya Operating, also known as Kalex Chemical Products.

Players

Robert Fordi
Robert Fordi
9 deals$229.4M volume
BUYER

Details

SOLD
IMAGE: Robert Fordi DATE: 11/06/2020 ADDRESS: 209 Gardner Avenue MARKET: Brooklyn ASSET TYPE: industrial ~ ZONING: M3-1 PRICE: $28,000,000 BSF: 100,840 ~ PPBSF: $277 SF: 50,420 ~ PPSF: $555 BUYER: Realterm Logistics – Robert Fordi SELLER: Manya Operating (Kalex Chemical Products)

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,493,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$99,478.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,734.28
Annual Debt Service$1,592,811.42