Ripco Represents Falco Family In $8.85M Sale Of Industrial Property On East 69th Street In Brooklyn
2350 East 69th Street
$8,850,000
$184/SF
Building Size
48,000 SF
Asset Type
Industrial
Closing
Jan 10, 2024
AI
The industrial property located at 2350 East 69th Street in Brooklyn has been sold in a transaction facilitated by Ripco. The property spans 48,000 square feet and was sold for a price of $8,850,000, resulting in a price per square foot of $184.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $8,850,000
- Square Footage: 48,000
- Price Per Square Foot: $184
- Address: 2350 East 69th Street, Brooklyn
- Market: Brooklyn
The seller, Falco Family, enlisted the services of Stephen R. Preuss Sr., Gene Spiegelman, Kevin Louie, Andreas Efthymiou, and Kevin Schmitz from Ripco as their representatives in the transaction. They played a crucial role in facilitating the successful sale of the property.
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
1.79%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93