Prologis UK Acquires Industrial Property In East Williamsburg For $20.75M
SOLD
$20,750,000
+ 2
New York
See Similar DealsIndustrial55,000 SF
Sold 09/13/2019
SOLD
Prologis UK Acquires Industrial Property In East Williamsburg For $20.75M
498 Johnson Ave, Brooklyn, NY 11237, USA
See Similar DealsIndustrial55,000 SF
Sold 09/13/2019
+ 2
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$377
Total Square Footage:55,000 SF
Transaction Type:Sale
The industrial property located at 498-524 Johnson Avenue in East Williamsburg has been sold. The property spans 55,000 square feet and has been purchased by @Prologis_UK – Hamid Moghadam for a sale price of $20,750,000. The building has a price per square foot of $377. The transaction was facilitated by brokers Ofer Cohen, Dan Marks, Daniel Lebor, and Garrett Allen from @terracrg.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $20,750,000
- Address: 498-524 Johnson Avenue
- Market: East Williamsburg
The seller of the property was Joyva Corp – The Radutzky Family. The buyer, @Prologis_UK – Hamid Moghadam, acquired the industrial asset at a price of $377 per square foot. The brokers involved in the deal were Ofer Cohen, Dan Marks, Daniel Lebor, and Garrett Allen from @terracrg.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,106,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,720.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$98,365.59
Annual Debt Service$1,180,387.03
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