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31 Church Avenue

Updated Aug 19, 2025

BP Developer Partners Acquires Industrial Asset In Kensington Brooklyn For $10 Million From Jack Guttman
SOLDIndustrial

BP Developer Partners Acquires Industrial Asset In Kensington Brooklyn For $10 Million From Jack Guttman

31 Church Avenue

$10,000,000

$1,012/SF

Building Size

9,880 SF

Asset Type

Industrial

Closing

Aug 6, 2025

About this deal

AI

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.

On the Map

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$10,000,000

$1,012/SF

Industrial

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Players

Jack Guttman

Pearl Realty Management

Seller

$659.9M

vol

18 deals

Seller
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Brooklyn Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $1K per square foot on a published $10M for 9,880 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.59%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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