Updated Sep 9, 2024
Michael Friedman & Jack Weber Acquire Industrial Property In Brooklyn For $1.385M
48 Herkimer Pl
$1,385,000
$376/SF
Building Size
3,681 SF
Asset Type
Industrial
Closing
Dec 12, 2022
About this deal
AI
Located at 48-50 Herkimer Place in Brooklyn, this industrial property has been sold in a recent transaction. The property spans a total area of 3,681 square feet, with a selling price of $1,385,000, resulting in a price per square foot of $376. The transaction took place on 12/12/2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $1,385,000
- Market: Brooklyn
The buyer of the property is Michael Friedman and Jack Weber, while the seller is Saul Rosenberg. The deal was facilitated by brokers Jason Grunberg and Jake Torre from SAB Capital, as well as Matthew Peters from Marcus & Millichap.
This transaction highlights the involvement of key individuals and companies. Michael Friedman and Jack Weber acted as the buyers, Saul Rosenberg as the seller, and Jason Grunberg, Jake Torre, and Matthew Peters as the brokers representing their respective parties.
On the Map
$1,385,000
$376/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
11.45%
Cash-on-Cash
-3.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93