Updated Dec 21, 2023
Rick A Mathews Acquires Warehouse Property In Greenpoint, Brooklyn For $38M
301 Norman Avenue, Brooklyn, New York 11222, United States
$38,000,000
$653/SF
Building Size
58,152 SF
Asset Type
Industrial
Closing
Dec 2, 2021
About this deal
AI
A warehouse located at 301 Norman Avenue in Greenpoint, Brooklyn has been sold in a recent transaction. The property, zoned as M3-1, offers a total lot size of 78,740 square feet and boasts dimensions of 155 feet by 508 feet. With a floor area ratio (FAR) of 0.74, the warehouse encompasses 58,152 square feet of interior space. The transaction took place on December 3, 2021.
Summary of Transaction Details:
- Property Type: Warehouse
- Sale Price: $38,000,000
- Price per Square Foot: $653
- Building Square Footage: 58,152
- Land Area: 78,740 square feet
- Zoning: M3-1
- Previous Sale Price: $0 (on May 21, 2003)
The warehouse was acquired by Rick A Mathews from Barry Swidler. Rick A Mathews was represented by their broker, while Barry Swidler did not have a broker involved in the transaction. The property's tax class is 4, and the price per buildable square foot is $241.
Players
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Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93