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333 North Henry Street

Jay Cornforth Of Bridge Logistics Properties Acquires Industrial Building In Greenpoint For $30M
SOLDIndustrial

Jay Cornforth Of Bridge Logistics Properties Acquires Industrial Building In Greenpoint For $30M

333 North Henry Street

$30,000,000

$483/SF

Building Size

62,000 SF

Asset Type

Industrial

Closing

Dec 27, 2024

AI

An industrial building located at 333 North Henry Street in Greenpoint, Brooklyn, has been sold for $30 million. The property encompasses 62,000 square feet and has a price per square foot of $484. The acquisition was made by Bridge Logistics Properties from fashion retailer Jovani.

Summary of transaction details:

This transaction represents a strategic addition to Bridge's expanding industrial portfolio, which also includes recent acquisitions in Melville and Brentwood, Long Island. The deal was facilitated by brokers Jeffrey Unger and Robert Klein from Kalmon Dolgin Affiliates.

Players

Robert Klein

Kalmon Dolgin Affiliates

Broker

$60M

vol

2 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

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93