Marcus & Millichap Brokers Sell Industrial Property In Brownsville, NY For $8.35M
375 Newport Street, Brownsville, Brooklyn, NY, USA
$8,353,000
$175/SF
Building Size
47,600 SF
Asset Type
Industrial
Closing
Aug 28, 2019
AI
A 47,600 square foot industrial property located at 375 Newport Street in Brownsville has been sold. The property was listed with an asking price of $8,750,000 and was eventually sold for $8,353,000, at a price per square foot of $175. The seller of the property was Christopher Palagonia, while the buyer was Jessie Broker.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $8,353,000
- Address: 375 Newport Street, Brownsville
- Market: Brownsville
The sale of this industrial property was facilitated by the brokers from Marcus & Millichap, namely Jakub Nowak, Thomas Brennan, Matthew Rosenzweig, and Jonathan Eshaghian.
Players
New York 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
1.90%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93