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245 48th Street, Brooklyn, ...

Michael Wahba Acquires Industrial Property In Brooklyn's Sunset Park For $4.1M
SOLDIndustrial

Michael Wahba Acquires Industrial Property In Brooklyn's Sunset Park For $4.1M

245 48th Street, Brooklyn, NY 11220, USA

$4,100,000

$532/SF

Building Size

7,700 SF

Asset Type

Industrial

Closing

Nov 24, 2021

AI

A industrial property located at 245 48th Street in Brooklyn was recently sold for a price of $4,100,000. The property has a total area of 7,700 square feet and a price per square foot of $533. This transaction sets a historical price record for industrial sales north of 2,500 square feet in the Sunset Park neighborhood.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $4,100,000
  • Address: 245 48th Street, Brooklyn
  • Market: Brooklyn

The buyer in this transaction was Michael Wahba, while Meyer Bodner acted as the seller. The deal was facilitated by the brokers Jakub Nowak and Jake Torre from The Nowak Group, who are associated with Marcus & Millichap.

For more information or to discuss NYC industrial and commercial property sales, you can reach out to the experts at The Nowak Group. Jakub Nowak can be contacted at 718-475-4353, and Jake Torre at 718-475-4325.

Players

Jake Torre

SAB Capital

Broker

$97.1M

vol

23 deals

Broker
Michael Wahba

Michael Wahba

Salt Equities

Buyer

$21.2M

vol

4 deals

Buyer

Meyer Bodner

Seller

$10.1M

vol

2 deals

Seller

New York Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.87%

Cash-on-Cash

-1.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93