Updated Jun 10, 2026
LT Pro Construction Inc Acquires Industrial Property From Joe Anastasi For $4.1M In Brooklyn
224 48th Street
$4,100,000
$372/SF
Building Size
11,000 SF
Asset Type
Industrial
Closing
Jun 17, 2026
About this deal
AI
This industrial asset, located at 224-228 48th Street in Brooklyn, has a sale price of $4,100,000. The property encompasses a total of 11,000 square feet, translating to a price per square foot of $372.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,100,000
- Buyer: LT Pro Construction Inc
- Seller: Joe Anastasi
- Brokers: Jake Torre & Jason Grunberg - SAB Capital
- Date of Sale: 6/18/2026
This transaction involved a significant relationship between the brokers and the buyer, LT Pro Construction Inc, who has previously engaged in multiple deals with the brokers. The deal was efficiently facilitated despite taking months, including 20 property tours and various negotiations, highlighting the brokers' dedication to the process. This sale represented the final transaction of a three-property portfolio.
On the Map
$4,100,000
$372/SF
Industrial
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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
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93