Updated Nov 27, 2024
O'Connor Capital Partners & CBRE Investment Management Acquire Industrial Property In Sunset Park For $85M
5112 2nd Avenue, Brooklyn, NY 11232
$85,000,000
$406/SF
Building Size
209,000 SF
Asset Type
Industrial
Closing
Dec 23, 2021
About this deal
AI
An industrial property located at 5112 2nd Avenue in Sunset Park has been sold for $85,000,000. The property spans 209,000 square feet and is zoned M3-1. The sale took place on December 23, 2021, and the previous sale price was $47,000,000 on October 2, 2017.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $85,000,000
- Address: 5112 2nd Avenue
- Market: Sunset Park
- Zone: M3-1
O'Connor Capital Partners and CBRE Investment Management purchased the property from 60 Guilders, represented by Kevin Chisholm, Bastien Broda, and ASB Real Estate Investments. The transaction was facilitated by brokers Adam Spies, Josh King, Adam Doneger, Marcella Fasulo, and Dan O'Brien from Cushman & Wakefield.
On the Map
$85,000,000
$406/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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93