Amazon Leases Industrial Space In Red Hook, Brooklyn For $155M
SOLD
$155,000,000
+ 2
New York
See Similar DealsIndustrial312,100 SF
Sold 02/01/2021
SOLD
Amazon Leases Industrial Space In Red Hook, Brooklyn For $155M
280 Richards Street, Red Hook, Brooklyn, NY, USA
See Similar DealsIndustrial312,100 SF
Sold 02/01/2021
+ 2
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$496
Total Square Footage:312,100 SF
Transaction Type:Sale
An equity recap transaction has taken place at 280 Richards Street in Red Hook. The industrial property, spanning 312,100 square feet, has been involved in the deal. The transaction amount for this asset is $155,000,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $155,000,000
- Tenant: @Amazon
- Landlord: @ThorEquities
- Brokers: Jordy Roeschlaub, Dustin Stolly, Kevin Welsh & Brett Siegel @Newmark
The equity recap transaction at 280 Richards Street was facilitated by brokers Jordy Roeschlaub, Dustin Stolly, Kevin Welsh, and Brett Siegel from Newmark. @Amazon serves as the tenant, while @ThorEquities acts as the landlord.
Players
LANDLORD
TENANT
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$550,682.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$734,779.08
Annual Debt Service$8,817,348.93
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