Chad Nelson Acquires Industrial Property In East New York For $2.5M
SOLD
$2,500,000
New York
See Similar DealsIndustrial11,187 SF
Sold 03/05/2021
SOLD
Chad Nelson Acquires Industrial Property In East New York For $2.5M
555 Liberty Ave, East New York, Brooklyn, NY, USA
See Similar DealsIndustrial11,187 SF
Sold 03/05/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$223
Total Square Footage:11,187 SF
Transaction Type:Sale
The industrial property located at 555 Liberty Ave in East New York has been sold for $2,500,000. The property has a building square footage (BSF) of 22,374 and a price per BSF (PPBSF) of $111. The total square footage (SF) of the property is 11,187, with a price per square foot (PPSF) of $223. The property is zoned M1-4/R6A, MX-16 and has a lot size of 74.58 ft x 100 ft.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $2,500,000
- Address: 555 Liberty Ave
- Market: East New York
- Zoning: M1-4/R6A, MX-16
The buyer in this transaction is Chad Nelson, while the seller is Moshe Simpson. The brokers involved in the deal are Rob Finnerty from RobertOFinn, Dan Marks from BrooklynDanny, and Daniel Lebor from DanielLebor at TerraCRG. The property had previously been sold for $2,150,000 in June 2020.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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