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Matthew LoCurto Acquires Warehouse In East Flatbush, Brooklyn For $6.85M

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SOLD
$6,850,000

New York

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Industrial21,687 SF
Sold 11/19/2021
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SOLD

Matthew LoCurto Acquires Warehouse In East Flatbush, Brooklyn For $6.85M

5361 Preston Court, East Flatbush, Brooklyn, NY, USA

See Similar Deals
Industrial21,687 SF
Sold 11/19/2021
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$315
Total Square Footage:21,687 SF
Transaction Type:Sale

The property involved in this transaction is a warehouse located at 5361 Preston Court in the East Flatbush neighborhood of Brooklyn. The property has a zoning designation of M1-1, indicating that it is intended for industrial use. It spans a total of 21,687 square feet and has a building square footage (BSF) of 25,477. The price for this property was $6,850,000, resulting in a price per square foot (PPSF) of $316. The property's floor area ratio (FAR) is 0.85, and it falls under tax class 4. The lot size is 25,477 square feet, with dimensions of 127.85 feet by 208.24 feet.

Summary of transation details

  • Property Type: Warehouses
  • Transaction Amount: $6,850,000
  • Market: East Flatbush, Brooklyn
  • Zoning: M1-1
  • BSF: 25,477
  • PPBSF: $269
  • SF: 21,687
  • PPSF: $316
  • FAR: 0.85
  • Tax Class: 4
  • Lot Size: 25,477
  • Last Sale Price: $0
  • Lot Dimension: 127.85 ft x 208.24 ft

The buyer in this transaction was Matthew LoCurto, while the seller was Dino Tomassetti Jr.

Players

6 deals$76.7M volume
SELLER

Details

SOLD
IMAGE: 11/19/2021 ADDRESS: 5361 Preston Court MARKET: East Flatbush,Brooklyn ASSET TYPE: Warehouses ~ ZONING: M1-1 BUYER: Matthew LoCurto SELLER: Dino Tomassetti Jr PRICE: $6,850,000 BSF: 25,477 ~ PPBSF: $269 SF: 21,687 ~ PPSF: $316 FAR: 0.85 TAX CLASS: 4 LOT SIZE: 25,477 LAST SALE PRICE: $0 LOT DIMENSION: 127.85 ft x 208.24 ft

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$365,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,336.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,472.49
Annual Debt Service$389,669.94