Updated Nov 28, 2024
CBRE Investment Acquires Industrial Property In Red Hook, Brooklyn For $330M
640 Columbia Street, Brooklyn, New York 11231, United States
$330,000,000
$825/SF
Building Size
400,000 SF
Asset Type
Industrial
Closing
Jun 23, 2022
About this deal
AI
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
- Property Type: Industrial
- Transaction Amount: $330,000,000
- Buyer: CBRE Investment
- Seller: DH Property Holdings - Dov Hertz's & Goldman Sachs Asset Management
- Brokers: Adam Spies, Doug Harmon, Joshua King, Adam Doneger, Gary Gabriel & Kyle Schmidt - Cushman & Wakefield
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
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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93