Updated Oct 28, 2024
Turnbridge Equities Acquires Canarsie Industrial Property For $22.5M
807 Bank Street
$22,500,000
$132/SF
Building Size
170,000 SF
Asset Type
Industrial
Closing
Jan 5, 2022
About this deal
AI
The industrial property located at 807 Bank St. & 300 DeWitt Ave. in Canarsie has been sold. The property spans across 170,000 square feet and is situated in a bustling market. The sale of this asset was facilitated by Andrew Joblon, Ryan Nelson, and their respective firms.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $22,500,000
- Square Footage: 170,000
- Price per Square Foot: $132
- Market: Canarsie
The buyer of this property is Turnbridge Equities, represented by Ryan Nelson, in collaboration with Dune Real Estate Partners. This transaction signifies a significant investment in the industrial sector in Canarsie.
On the Map
$22,500,000
$132/SF
Industrial
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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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93