Sunlight Development Group And Xia Zhou Acquire Industrial Building In Greenpoint, Brooklyn For $18.8M
$18,750,000
$360/SF
Building Size
52,003 SF
Asset Type
Industrial
Closing
Jul 21, 2023
AI
An industrial building located at 49 Ash Street in Greenpoint, Brooklyn, has been sold for $18.8 million. The property has a total square footage of 103,132, with a price per square foot of $182. The building itself spans over 52,003 square feet and has a price per square foot of $361.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $18,750,000
- Address: 49 Ash Street, Greenpoint, Brooklyn
- Buyer: Sunlight Development Group & Xia Zhou
- Seller: Joseph Torres
- Buyer's Representative: Greenpoint Summit LLC
- Seller's Representative: Not specified
Sunlight Development Group and Xia Zhou, represented by Greenpoint Summit LLC, successfully acquired the industrial building at 49 Ash Street. The property was purchased from the seller, Joseph Torres, and Greenpearl Group LLC for a total of $18.8 million. This transaction marks a significant investment in the Greenpoint, Brooklyn market.
Players
Market 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
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93