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2350 East 69th Street

Ripco Represents Falco Family In $8.85M Sale Of Industrial Property On East 69th Street In Brooklyn
SOLDIndustrial

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

Kevin Louie

Ripco

Broker

$1.1B

vol

129 deals

Broker

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