Updated Oct 29, 2024
60 Energy LLC Acquires Industrial Building In Bedford Stuyvesant, Brooklyn For $4.1M
60-62 Franklin Avenue Brooklyn, NY 11205, USA
$4,100,000
$366/SF
Building Size
11,200 SF
Asset Type
Industrial
Closing
Jun 7, 2023
About this deal
AI
An industrial building located at 60-62 Franklin Avenue in Bedford Stuyvesant, Brooklyn, was sold for $4.1 million. The property has a total built space of 11,200 square feet, with additional air rights of 287 square feet. The sale was finalized on June 7, 2023.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,100,000
- Market: Bedford Stuyvesant, Brooklyn
- Address: 60-62 Franklin Avenue
- Buyer: 60 Energy LLC - Alan Weiss
- Seller: Raymond Lee
Raymond Lee sold the industrial building to an undisclosed buyer operating as 60 Energy LLC. Alan Weiss, representing 60 Energy LLC, acted as the buyer's representative in the deal.
Players
Swampscott 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
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93