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BP Developer Partners Acquires Industrial Asset In Kensington Brooklyn For $10 Million From Jack Guttman
SOLD
$10,000,000
New York
See Similar DealsIndustrial9,880 SF
Sold 08/06/2025
SOLD
BP Developer Partners Acquires Industrial Asset In Kensington Brooklyn For $10 Million From Jack Guttman
31 Church Avenue
See Similar DealsIndustrial9,880 SF
Sold 08/06/2025
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$1,012
Total Square Footage:9,880 SF
Transaction Type:Sale
The property asset involved in this transaction is an industrial property located at 31 Church Avenue in Kensington, Brooklyn. The sale price for this asset was $10,000,000. The property encompasses a building size of 9,880 square feet and boasts a building square footage (BSF) of 35,343, resulting in a price per BSF of $283 and a price per square foot (PPSF) of $1,012.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,000,000
- Building Size: 9,880 SF
- BSF: 35,343
- PPBSF: $283
- PPSF: $1,012
- Buyer: BP Developer Partners
- Seller: Jack Guttman - Pearl Realty Management
- Date of Transaction: 08/06/2025
- Market: Kensington, Brooklyn
BP Developer Partners acquired the property from Pearl Realty Management, represented by Jack Guttman. The buyer has outlined intentions for ground-up development on the site, indicating future plans for the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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