Terra CRG Brokers Acquire East Williamsburg Commercial Property For $8M
SOLD
$8,000,000
New York
See Similar DealsIndustrial12,720 SF
Sold 01/16/2024
SOLD
Terra CRG Brokers Acquire East Williamsburg Commercial Property For $8M
25 Knickerbocker Avenue
See Similar DealsIndustrial12,720 SF
Sold 01/16/2024
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$628
Total Square Footage:12,720 SF
Transaction Type:Sale
The commercial property located at 25 Knickerbocker Avenue in East Williamsburg, Brooklyn has been sold for a total of $8,000,000. The property spans a total area of 12,720 square feet, resulting in a price per square foot of $629. The sale took place on January 16, 2024.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $8,000,000
- Square Footage: 12,720
- Price Per Square Foot: $629
- Address: 25 Knickerbocker Avenue
- Market: East Williamsburg, Brooklyn
The sale of this commercial property was facilitated by brokers Dan Marks, Daniel Lebor, and Jackson O'Neill from Terra CRG.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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