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215 Moore Street

Fortress Investment Group Acquires Industrial Property In East Williamsburg For $25.5M
SOLDIndustrial

Fortress Investment Group Acquires Industrial Property In East Williamsburg For $25.5M

215 Moore Street

$25,500,000

Building Size

Asset Type

Industrial

Closing

Oct 13, 2023

AI

The Bushwick hotel site at 215 Moore St., Brooklyn, located in East Williamsburg, has been sold in a foreclosure sale for $25.5 million. The industrial property was purchased by Pete Briger, representing Fortress Investment Group, from Jeffrey Miller.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $25,500,000
  • Address: 215 Moore Street
  • Market: East Williamsburg

Pete Briger, from Fortress Investment Group, served as the buyer in this transaction. On the other hand, Jeffrey Miller acted as the seller. The sale represents a significant deal in the East Williamsburg market.

Players

Pete Briger

Fortress Investment Group

Buyer

$606.3M

vol

7 deals

Buyer
Fortress Investment Group
Fortress Investment GroupLender

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

0.62%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93