Updated Dec 21, 2023
David Bistricer Acquires Crown Heights Warehouse From Boris Saks For $4.73M
643 Classon Avenue, Brooklyn, New York 11238, United States
$4,730,000
$1,150/SF
Building Size
4,112 SF
Asset Type
Industrial
Closing
Dec 21, 2021
About this deal
AI
A warehouse located at 643 Classon Avenue in Crown Heights, Brooklyn has been sold in a recent transaction. The property, with a total area of 17,132 square feet, was purchased by David Bistricer from Boris Saks for a price of $4,730,000. The sale price per square foot was $1,150.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: $4,730,000
- Address: 643 Classon Avenue, Crown Heights, Brooklyn
- Market: Crown Heights, Brooklyn
- Zoning: M1-1
David Bistricer acted as the buyer in this transaction, while Boris Saks was the seller. The warehouse has a floor area ratio (FAR) of 0.96 and is classified under tax class 4. The lot size is 4,283 square feet, with dimensions of 48.67 ft x 88 ft. The property had previously been sold for $2,300,000 on October 11, 2014.
An alteration permit (Alteration 3) was issued for the warehouse on July 29, 2021.
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
3.35%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93