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Martin Fink Acquires Industrial Property In Farragut, Brooklyn For $5.2M

Property Image
SOLD
$5,200,000

New York

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Industrial26,000 SF
Sold 08/02/2023
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Property Image
SOLD

Martin Fink Acquires Industrial Property In Farragut, Brooklyn For $5.2M

4420 Farragut Road

See Similar Deals
Industrial26,000 SF
Sold 08/02/2023
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$200
Total Square Footage:26,000 SF
Transaction Type:Sale

An industrial property located at 4420 Farragut Road in Farragut, Brooklyn has recently been sold for a total price of $5,200,000. This property spans over an area of 26,000 square feet, resulting in a price per square foot of $200. The sale took place on 08/02/2023, with Matthew Peters of Marcus & Millichap serving as the broker in the transaction. The buyer of the property was Martin Fink, while the seller was Gary Rosen, Esq. of Rosen Law LLC.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $5,200,000
  • Square Footage: 26,000
  • Price per Square Foot: $200
  • Address: 4420 Farragut Road, Farragut, Brooklyn
  • Market: Farragut, Brooklyn
  • Buyer: Martin Fink
  • Seller: Gary Rosen, Esq. - Rosen Law LLC
  • Broker: Matthew Peters - Marcus & Millichap

In this deal, Matthew Peters from Marcus & Millichap represented the buyer, Martin Fink, while Gary Rosen, Esq. of Rosen Law LLC acted as the seller. The transaction showcases the involvement of key individuals and companies in the successful sale of the industrial property.

Players

Matthew Peters
28 deals$159.6M volume(716) 604-5763
BROKER

Details

SOLD
IMAGE: Matthew Peters & Gary Rosen DATE: 08/02/2023 ADDRESS: 4420 Farragut Road MARKET: Farragut, Brooklyn ASSET TYPE: Industrial BUYER: Martin Fink SELLER: Gary Rosen, Esq. - Rosen Law LLC (@RosenLawLLC) BROKER: Matthew Peters (@MPeters_CRE) - Marcus & Millichap (@MarcusMillichap) SALE PRICE: $5,200,000 SF: 26,000 ~ PPSF: $200

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$277,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83