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Camber Property Group Acquires Industrial Building In East New York, Brooklyn From Legion Lighting For $6.9M
SOLD
$6,900,000
New York
See Similar DealsIndustrial28,830 SF
Sold 07/26/2023
SOLD
Camber Property Group Acquires Industrial Building In East New York, Brooklyn From Legion Lighting For $6.9M
221 Glenmore Avenue Brooklyn, New York 11207, USA
See Similar DealsIndustrial28,830 SF
Sold 07/26/2023
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$239
Total Square Footage:28,830 SF
Transaction Type:Sale
An industrial building located at 221 Glenmore Avenue in East New York, Brooklyn has been sold for $6.9 million. The property has a building square footage (BSF) of 61,706 with a price per BSF (PPBSF) of $112. The total square footage (SF) of the property is 28,830 with a price per square foot (PPSF) of $239.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $6,900,000
- Address: 221 Glenmore Avenue
- Market: East New York, Brooklyn
The buyer, Camber Property Group, represented by Glenmore Owner LLC, acquired the industrial building from the seller, Legion Lighting, represented by Josh Realty Co., Inc. This deal was completed on the 26th of July, 2023.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$367,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,514.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,709.52
Annual Debt Service$392,514.24
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