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306 Stagg Street

Dionicio Estevez Acquires Industrial Property In East Williamsburg, Brooklyn For $7.1M
SOLDIndustrial

Dionicio Estevez Acquires Industrial Property In East Williamsburg, Brooklyn For $7.1M

306 Stagg Street & 316 Stagg Street

$7,100,000

$236/SF

Building Size

30,000 SF

Asset Type

Industrial

Closing

Sep 29, 2023

AI

Located in East Williamsburg, Brooklyn, the industrial property at 306-316 Stagg Street has been sold in a transaction facilitated by B6 Real Estate Advisors. The property spans approximately 15,000 square feet and was sold for a total price of $7,100,000, resulting in a price per square foot of $473.

Summary of Transaction Details

  • Property Type: Industrial
  • Transaction Amount: $7,100,000
  • Address: 306-316 Stagg Street, East Williamsburg, Brooklyn
  • Market: East Williamsburg, Brooklyn

The buyer of the property is Dionicio Estevez, while the seller is Jeffrey Schissel. The transaction was handled by Aaron Birns, Mark Lively, Bryan Kirk, Noah Goldstein, Jay Li, and Andy Chen, who are brokers from B6 Real Estate Advisors. Their expertise and guidance played a crucial role in ensuring a successful sale.

Players

Aaron Birns

B6 Real Estate Advisors

Broker

$78.5M

vol

7 deals

Broker

Brooklyn Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.23%

Cash-on-Cash

-0.64%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93