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64-66 Franklin Avenue Brook...

Tiferes Yehuda Family Trust & Joel Waldman Acquire Industrial Building In Bedford Stuyvesant, Brooklyn For $5.6M
SOLDIndustrial

Tiferes Yehuda Family Trust & Joel Waldman Acquire Industrial Building In Bedford Stuyvesant, Brooklyn For $5.6M

64-66 Franklin Avenue Brooklyn, New York 11205

$5,600,000

$416/SF

Building Size

13,440 SF

Asset Type

Industrial

Closing

Jun 8, 2023

AI

The industrial building located at 64-66 Franklin Avenue in Bedford Stuyvesant, Brooklyn, has been sold for $5.6 million. The property, with 13,440 square feet of built space, was acquired by Tiferes Yehuda Family Trust, Joel Waldman, and others through their entity 64 Energy LLC. The transaction closed on June 8, 2023.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $5,600,000
  • Address: 64-66 Franklin Avenue, Bedford Stuyvesant, Brooklyn
  • Market: Bedford Stuyvesant, Brooklyn
  • Buyer: Tiferes Yehuda Family Trust, Joel Waldman
  • Seller: Raymond Lee
  • Square Footage: 13,440

The purchase of the industrial building at 64-66 Franklin Avenue was made by Tiferes Yehuda Family Trust, Joel Waldman, and others through their entity 64 Energy LLC. The property, located in Bedford Stuyvesant, Brooklyn, provides a significant amount of built space for industrial use.

Players

Joel Waldman

Buyer

$11.8M

vol

3 deals

Buyer

New York 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

2.83%

Cash-on-Cash

-0.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93