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74 Bogart Street, Brooklyn,...

Updated Oct 29, 2024

Storage Deluxe Acquires Industrial Property In Bushwick, BK For $45.5M
SOLDIndustrial

Storage Deluxe Acquires Industrial Property In Bushwick, BK For $45.5M

74 Bogart Street, Brooklyn, NY, USA

$45,500,000

$206/SF

Building Size

220,000 SF

Asset Type

Industrial

Closing

May 9, 2019

About this deal

AI

Located at 74 Bogart St in Bushwick, Brooklyn, this industrial property was recently sold in a closed transaction. The asset spans approximately 220,000 square feet and was sold for a total of $45,500,000, resulting in a price per square foot of $206.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $45,500,000
  • Address: 74 Bogart St
  • Market: Bushwick, BK

The sellers of this property were Abe Mandel and Joseph Brunner. The buyers, Steve Novenstein and Daniel Alvarez of Storage Deluxe, acquired the property through the representation of Steven Pollan, Daniel Myers, Rachael Brook, of Kassin Sabbagh Realty. The plans for the property involve demolishing it and constructing a 7-story storage facility, which will be operated by Cubesmart Self Storage.

On the Map

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$45,500,000

$206/SF

Industrial

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Players

Daniel Myers

Broker

$74M

vol

3 deals

Broker
SD
Storage DeluxeBuyer
Steve Novenstein

Steve Novenstein

Storage Deluxe

Buyer

$124.6M

vol

6 deals

Buyer
Bilt advertisement

New York Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $206 per square foot on a published $45.5M for 220,000 square feet (2019).

Visit Steven Pollan to view all their deals.

Browse New York industrial sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.35%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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