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419 Vandervoort Avenue, Bro...

Updated Dec 21, 2023

Lester Weiss Acquires Industrial Property In Williamsburg, Brooklyn For $13.5M
SOLDIndustrial

Lester Weiss Acquires Industrial Property In Williamsburg, Brooklyn For $13.5M

419 Vandervoort Avenue, Brooklyn, New York 11222, United States

$13,500,000

$308/SF

Building Size

43,800 SF

Asset Type

Industrial

Closing

Jan 18, 2022

About this deal

AI

The industrial property at 419 Vandervoort Ave in Williamsburg, Brooklyn has been sold for $13,500,000. The property has a building square footage (BSF) of 30,000 and a price per BSF of $450. The total square footage (SF) is 43,800, with a price per SF of $308. The lot size is 30,000, with dimensions of 300 ft x 100 ft. The property is zoned as M1-1 and falls under tax class 4. The transaction took place on January 19, 2022.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $13,500,000
  • Address: 419 Vandervoort Ave, Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn
  • Zoning: M1-1
  • Buyer: Lester Weiss
  • Seller: Lester Weiss
  • Building Square Footage (BSF): 30,000
  • Price per BSF: $450
  • Total Square Footage (SF): 43,800
  • Price per SF: $308
  • Far: 1.46
  • Tax Class: 4
  • Lot Size: 30,000
  • Permits: Alteration 2 (05/27/2011)
  • Lot Dimensions: 300 ft x 100 ft

The buyer and seller in this transaction were both Lester Weiss. There is no additional information available about the individuals or companies involved.

Players

Lester Weiss

Broker

$22M

vol

2 deals

Broker

New York Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $308 per square foot on a published $13.5M for 43,800 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.18%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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