New Empire Corp Acquires Industrial & Retail Property In Flatbush, Brooklyn For $18M
21 Lenox Road, Brooklyn, New York 11226, United States
$18,000,000
$857,142/SF
Building Size
21 SF
Asset Type
Industrial
Closing
Apr 17, 2023
AI
The property involved in this closed transaction is located at 21 Lenox Road in Flatbush, Brooklyn. The property also includes 765 & 757 Flatbush Avenue. It is classified as an industrial and retail asset. The sale of this property took place on October 24, 2022.
Summary of transaction details
- Property Type: Industrial & Retail
- Transaction Amount: $18,000,000
- Buyer: New Empire Corp - Bentley Zhao
- Seller: Steven Neuman
New Empire Corp, represented by Bentley Zhao, acquired the property from Steven Neuman. The sale price for this transaction was $18,000,000. The building has a total square footage of 108,052, with a price per square footage of $167. Additionally, the property has a smaller area of 21,861 square feet, with a price per square footage of $823.
Players
Brooklyn 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93