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
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