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Jason Davis Of Turnbridge Equities Buys Industrial Property In Bergen Beach, Brooklyn For $16.6M

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SOLD
$16,600,000

New York

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Industrial109,838 SF
Sold 03/04/2024
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Property Image
SOLD

Jason Davis Of Turnbridge Equities Buys Industrial Property In Bergen Beach, Brooklyn For $16.6M

2300 East 69th Street

See Similar Deals
Industrial109,838 SF
Sold 03/04/2024
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$151
Total Square Footage:109,838 SF
Transaction Type:Sale

The industrial property located at 2300 East 69th Street in Bergen Beach, Brooklyn, was sold for $16,600,000. The asset spans 109,838 square feet, resulting in a price per square foot of $151.

Summary of transaction details:

Mathew Diana and Peter Derbar of DY Realty Group represented both the buyer and the seller in this transaction. DY Realty Group, a specialist in the outer-borough industrial real estate market for over 40 years, facilitated the deal. For inquiries regarding selling, leasing a property, or joining the DY Realty team, contact Mat at 718-729-7474 x134 or [email protected].

Players

Mathew (Mat) Diana
DY Realty Group
Mathew Diana
19 deals$415.6M volume
BROKER

Details

SOLD
IMAGE: Mathew Diana DATE: 03/04/2024 ADDRESS: 2300 East 69th Street MARKET: Bergen Beach, Brooklyn ASSET TYPE: Industrial BUYER: Jason Davis - Turnbridge Equities (@TurnBridgeEquities) SELLER: Peter Tully BROKER: Mathew Diana - DY Realty Group (@DYRealtyGroup) SALE PRICE: $16,600,000 SF: 109,838 ~ PPSF: $151 NOTE FROM BROKER: Mathew Diana & Peter Derbar of DY Realty Group represented both the buyer and the seller in this transaction. DY Realty Group has been a specialist in the outer-borough industrial real estate market for over 40 years. If you have a property you are interested in selling or leasing or want to join the DY Realty team, contact Mat at 718-729-7474 x134 or [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$885,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$58,976.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,692.47
Annual Debt Service$944,309.63