Eli Gindi, Joseph Chetrit, And Joseph Nakash Acquire Red Hook Industrial Portfolio For $45M
SOLD
$45,000,000
New York
See Similar DealsIndustrial
Sold 12/22/2020
SOLD
Eli Gindi, Joseph Chetrit, And Joseph Nakash Acquire Red Hook Industrial Portfolio For $45M
611 Smith Street, Red Hook, Brooklyn, NY, USA
See Similar DealsIndustrial
Sold 12/22/2020
Summary
NEW YORK
Asset Type:Industrial
Transaction Type:Sale
The industrial property located at 611, 627, 659, and 595 Smith Street in Red Hook has been sold in a joint venture deal. The property is zoned as M3-1 and falls under the industrial asset type category. The transaction took place on December 22, 2020, and involved key individuals Joseph Chetrit, Eli Gindi, and Joseph Nakash. The sale price for this property was $45,000,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $45,000,000
- Address: 611, 627, 659, 595 Smith Street
- Market: Red Hook
- Zoning: M3-1
In this joint venture deal, Joseph Chetrit, Eli Gindi, and Joseph Nakash played key roles. They represented the buyers or sellers in this transaction.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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