Jason Barnett Acquires Industrial Property In Red Hook, Brooklyn From Robert A Malecky For $103.5M
SOLD
New York
See Similar DealsIndustrial65,050 SF
Sold 12/17/2021
SOLD
Jason Barnett Acquires Industrial Property In Red Hook, Brooklyn From Robert A Malecky For $103.5M
750 Court Street, Brooklyn, New York, United States
See Similar DealsIndustrial65,050 SF
Sold 12/17/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$1,590
Total Square Footage:65,050 SF
Transaction Type:Sale
The industrial property located at 750 & 728 Court Street, 730 Clinton Street & 764 Henry Street in Red Hook, Brooklyn has been sold in a closed transaction. The property is zoned for M3-1 and spans a lot size of 218,250 square feet. The last sale of the property took place on November 12, 2013, at a price of $15,500,000. The property has dimensions of 369.67 ft x 71 ft.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $103,474,459
- Building Square Footage: 728,010
- Price Per Square Foot: $142
- Total Square Footage: 65,050
- Price Per Square Foot: $1,591
- Floor Area Ratio (FAR): 0.01
- Tax Class: 4
The buyer in this transaction is Jason Barnett, while the seller is Robert A Malecky. The deal was closed on December 17, 2021.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,518,637.81
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$367,622.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$490,521.73
Annual Debt Service$5,886,260.71
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