Marcus & Millichap Brokers Sell Industrial Property In Brownsville, NY For $8.35M
SOLD
$8,353,000
+ 1
New York
See Similar DealsIndustrial47,600 SF
Sold 08/29/2019
SOLD
Marcus & Millichap Brokers Sell Industrial Property In Brownsville, NY For $8.35M
375 Newport Street, Brownsville, Brooklyn, NY, USA
See Similar DealsIndustrial47,600 SF
Sold 08/29/2019
+ 1
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$175
Total Square Footage:47,600 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$445,493.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,676.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,597.48
Annual Debt Service$475,169.78
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