Updated Jan 15, 2025
Alan Weiss Of Gutman Weiss Acquires Industrial Property From Nancy Rosenthal In Brooklyn For $8.3M
400 Dewitt Avenue
$8,300,000
$323/SF
Building Size
25,700 SF
Asset Type
Industrial
Closing
Jan 6, 2025
About this deal
AI
The property asset involved in this transaction is an industrial type located at 400 Dewitt Avenue in Brooklyn. It features a total square footage of 25,700 and a sale price of $8,300,000, which equates to a price per square foot of $322.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $8,300,000
- Address: 400 Dewitt Avenue
- Market: Brooklyn
- Square Footage: 25,700
- Price per Square Foot: $322
- Buyer: Alan Weiss - Gutman Weiss
- Seller: Nancy Rosenthal
- Buyer's Representative: Robert Finnerty - Findor
- Seller's Representatives: David Schechtman, Lipa Lieberman & Abie Kassin - Meridian Capital Group
Key individuals involved in this transaction include the buyer Alan Weiss of Gutman Weiss, and seller Nancy Rosenthal. The deal was represented on the buyer's side by Robert Finnerty of Findor, while the seller was represented by David Schechtman, Lipa Lieberman, and Abie Kassin, all associated with Meridian Capital Group.
On the Map
$8,300,000
$323/SF
Industrial
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Players
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
1.91%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93