SEAGIS Property Group Acquires Industrial Property In East Williamsburg For $6.45M
SOLD
$6,450,000
New York
See Similar DealsIndustrial14,000 SF
Sold 06/30/2020
SOLD
SEAGIS Property Group Acquires Industrial Property In East Williamsburg For $6.45M
250 Johnson Avenue, East Williamsburg, Brooklyn, NY 11206, USA
See Similar DealsIndustrial14,000 SF
Sold 06/30/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$460
Total Square Footage:14,000 SF
Transaction Type:Sale
Located at 250 Johnson Avenue in East Williamsburg, this industrial property was recently sold in a closed transaction. The property spans 14,000 square feet and is zoned as M1-1. The sale price for the property was $6,450,000, resulting in a price per square foot of $460.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $6,450,000
- Address: 250 Johnson Avenue
- Market: East Williamsburg
- Zoning: M1-1
The buyer in this transaction was SEAGIS Property Group, while Morris Napolitano acted as the seller. The deal was facilitated by Julio Reyes from Reyes & Elsamad Real Estate Group and Hasanov Capital. These brokers helped ensure a smooth transaction for both parties involved.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$343,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,915.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,576.29
Annual Debt Service$366,915.49
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