Steve Poulos Of Bridge Industrial Acquires Industrial Property In Greenwood, Brooklyn For $248M
75 20th Street
$248,000,000
Building Size
—
Asset Type
Industrial
Closing
Jan 12, 2024
AI
A significant distribution center located at 75 20th Street, near the Gowanus Canal's mouth, has been acquired by FedEx for $248 million. The property is an industrial asset situated in the Greenwood neighborhood of Brooklyn.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $248,000,000
- Buyer: Steve Poulos - Bridge Industrial
- Seller: Raj Subramaniam - FedEx
Steve Poulos, representing Bridge Industrial, acted as the buyer in this acquisition. On the other hand, Raj Subramaniam, a representative of FedEx, served as the seller in the transaction.
Players
Brooklyn 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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93