Marvin Ramnath Purchases Industrial Property At 523 Liberty Avenue From Estate Of Lucy Ortiz For $3.328M
SOLD
$3,328,000
New York
See Similar DealsIndustrial10,000 SF
Sold 02/21/2025
SOLD
Marvin Ramnath Purchases Industrial Property At 523 Liberty Avenue From Estate Of Lucy Ortiz For $3.328M
523 Liberty Avenue
See Similar DealsIndustrial10,000 SF
Sold 02/21/2025
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$332
Total Square Footage:10,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$177,493.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,823.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,776.42
Annual Debt Service$189,317.01
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