facebook
Traded Co logo
Submit

CBRE Investment Acquires Industrial Property In Red Hook, Brooklyn For $330M

Property Image
SOLD
$330,000,000
Kyle Schmidt
Joshua King
Gary Gabriel
+ 3

New York

See Similar Deals
Industrial400,000 SF
Sold 06/24/2022
the dealplayerscompscontact
Property Image
SOLD

CBRE Investment Acquires Industrial Property In Red Hook, Brooklyn For $330M

640 Columbia Street, Brooklyn, New York 11231, United States

See Similar Deals
Industrial400,000 SF
Sold 06/24/2022
Kyle Schmidt
Joshua King
Gary Gabriel
+ 3
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$825
Total Square Footage:400,000 SF
Transaction Type:Sale

Located at 640 Columbia Street in Red Hook, Brooklyn, this industrial property was recently sold in a transaction. The property spans 400,000 square feet and was sold for a price of $330,000,000, resulting in a price per square foot of $825.

Summary of transation details

The deal was facilitated by brokers Adam Spies, Doug Harmon, Joshua King, Adam Doneger, Gary Gabriel & Kyle Schmidt, representing CBRE Investment. The seller in the transaction was DH Property Holdings, which includes the involvement of Dov Hertz's and Goldman Sachs Asset Management.

Players

Adam Doneger
Newmark
Adam Doneger
189 deals$50B volume(516) 317-7837
BROKER
Gary Gabriel
Cushman & Wakefield
Gary Gabriel
56 deals$4.5B volume
BROKER
Kyle Schmidt
Cushman & Wakefield
Kyle Schmidt
26 deals$1.3B volume
BROKER
Adam Spies
Newmark
Adam Spies
260 deals$71.4B volume(212) 841-7500
BROKER
Douglas (Doug) Harmon
Newmark
Douglas Harmon
128 deals$47.3B volume
BROKER
Joshua King
Newmark
Joshua King
114 deals$32.5B volume(212) 850-5427
BROKER
CBRE
CBRE
BUYER
Goldman Sachs
Goldman Sachs
SELLER
DH Property Holdings
DH Property Holdings
SELLER

Details

SOLD
IMAGE: Adam Spies, Doug Harmon, Joshua King, Adam Doneger, Gary Gabriel & Kyle Schmidt DATE: 06/24/2022 ADDRESS: 640 Columbia Street MARKET: Red Hook, Brooklyn ASSET TYPE: Industrial BUYER: CBRE Investment (@CBRE) SELLER: DH Property Holdings - Dov Hertz's & Goldman Sachs Asset Management (@GoldmanSachs) BROKERS: Adam Spies, Doug Harmon, Joshua King, Adam Doneger (@ADoneger), Gary Gabriel & Kyle Schmidt - Cushman & Wakefield (@CushWake) SALE PRICE: $330,000,000 SF: 400,000 ~ PPSF: $825

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$17,599,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$1,172,420.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,564,368.36
Annual Debt Service$18,772,420.30