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:
- Property Type: Industrial
- Transaction Amount: $30,000,000
- Address: 333 North Henry Street
- Market: Greenpoint, Brooklyn
- Square Footage: 62,000
- Price per Square Foot: $484
- Buyer: Jay Cornforth - Bridge Logistics Properties
- Brokers: Jeffrey Unger & Robert Klein - Kalmon Dolgin Affiliates
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.
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