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215 N 10th St, Brooklyn, NY...

Nissim Ben-Nun, Nicholas Werner And Michael Zampetti Acquire Industrial Building In Brooklyn For $25M
SOLDIndustrial

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

Nissim Ben-Nun

Largo Investments

Buyer

$31.8M

vol

2 deals

Buyer
LI
Largo InvestmentsBuyer

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