Turnbridge Equities Acquires Canarsie Industrial Property For $22.5M
SOLD
$22,500,000
New York
See Similar DealsIndustrial170,000 SF
Sold 01/05/2022
SOLD
Turnbridge Equities Acquires Canarsie Industrial Property For $22.5M
807 Bank Street
See Similar DealsIndustrial170,000 SF
Sold 01/05/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$132
Total Square Footage:170,000 SF
Transaction Type:Sale
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.
Players
BUYER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,200,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$79,937.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,661.48
Annual Debt Service$1,279,937.75
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