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236 Richards Street, Brookl...

LBA Realty Acquires Industrial Property In Red Hook & Beard Street For $34M
SOLDIndustrial

LBA Realty Acquires Industrial Property In Red Hook & Beard Street For $34M

236 Richards Street, Brooklyn, New York 11231, United States

$34,000,000

$366/SF

Building Size

92,700 SF

Asset Type

Industrial

Closing

Sep 8, 2022

AI

236 Richards Street & 118 Beard Street, located in Red Hook & Beard Street, has been sold for a total amount of $34,000,000. This industrial property spans across 92,700 square feet, resulting in a price per square foot of $366. The transaction took place on September 9, 2022. The buyer of the property is LBA Realty, represented by Perry Schonfeld. On the other hand, the seller is Leser Group, represented by Abraham Leser.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $34,000,000
  • Date: 09/09/2022
  • Address: 236 Richards Street & 118 Beard Street
  • Market: Red Hook & Beard Street
  • Square Footage: 92,700
  • Price per Square Foot: $366

Perry Schonfeld, from LBA Realty, played a crucial role as a representative for the buyer. Meanwhile, Abraham Leser served as the representative for the seller, Leser Group.

Players

LBA Realty
LBA RealtyBrokerage

Abraham Leser

Leser Group

Seller

$284.6M

vol

4 deals

Seller

New York 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

0.47%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93