Updated Dec 21, 2023
Ciril Stern Acquires Industrial Property On Ocean Parkway For $7M
705 McDonald Ave, Brooklyn, NY 11218, USA
$7,000,000
$42/SF
Building Size
164,520 SF
Asset Type
Industrial
Closing
Nov 18, 2019
About this deal
AI
Located at 705 McDonald Avenue in the Ocean Parkway market, this industrial property was recently sold for a price of $7,000,000. The property spans a total area of 16,452 square feet, resulting in a cost of approximately $425 per square foot.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,000,000
- Square Footage: 16,452
- Price per Square Foot: $425
- Address: 705 McDonald Avenue
- Market: Ocean Parkway
The buyer in this transaction was Ciril Stern, while the seller was Shlomo Hershkop who represented Deerhead Properties.
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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93