Updated Feb 27, 2025
Marvin Ramnath Purchases Industrial Property At 523 Liberty Avenue From Estate Of Lucy Ortiz For $3.328M
523 Liberty Avenue
$3,328,000
$332/SF
Building Size
10,000 SF
Asset Type
Industrial
Closing
Feb 21, 2025
About this deal
AI
The industrial property located at 523 Liberty Avenue in East New York has been sold for a total price of $3,328,000. The asset occupies a square footage of 10,000, resulting in a price per square foot of $332. Additionally, the building has a total building size of 39,000 square feet with a price per building square foot of $85.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,328,000
- Buyer: Marvin Ramnath
- Seller: Estate of Lucy Ortiz
- Broker: Julio Reyes
Julio Reyes represented the transaction as the broker. The deal reflects continued activity in the East New York industrial market, showcasing the buyer's engagement in acquiring significant commercial real estate assets.
On the Map
$3,328,000
$332/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
4.77%
Cash-on-Cash
-1.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93