Nissim Ben-Nun, Nicholas Werner And Michael Zampetti Acquire Industrial Building In Brooklyn For $25M
215 N 10th St, Brooklyn, NY 11211, USA
Building Size
9,000 SF
Asset Type
Industrial
Closing
Nov 28, 2020
AI
An industrial building located at 215 North 10th Street in Brooklyn, New York has been sold in a closed transaction. The property is comprised of 9,000 square feet of existing space and has a total buildable square footage of 50,000 square feet, resulting in a price per buildable square foot of $500. The transaction amount for the property is $25,000,000.
Summary of transaction details
- Property Type: Industrial Building
- Transaction Amount: $25,000,000
- Existing Square Footage: 9,000 sf
- Total Buildable Square Footage: 50,000 sf
- Price per Buildable Square Foot: $500
- Address: 215 North 10th Street, Brooklyn, New York
The buyer of the property is Largo Investments, represented by Nissim Ben-Nun, Nicholas Werner, and Michael Zampetti. The seller is Abraham Weiss' Northstar Equities LLC. The transaction was facilitated by the brokerage firm @CushWake.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93