David Levine Acquires Industrial Property In East New York, Brooklyn For $35.5M
906 Wortman Avenue, Brooklyn, New York 11207, United States
$35,500,000
$314/SF
Building Size
112,800 SF
Asset Type
Industrial
Closing
Dec 6, 2021
AI
The industrial property located at 906 Wortman Avenue in East New York, Brooklyn has been sold in a recent transaction. The property is zoned as M1-1 and spans a total area of 112,800 square feet. The transaction took place on December 7, 2021, with a sale price of $35,500,000. The price per square foot for this acquisition amounts to $315. It is important to note that the last recorded sale price for this property was $0 on January 4, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $35,500,000
- Address: 906 Wortman Avenue
- Market: East New York, Brooklyn
- Asset Type: Industrial
- Zoning: M1-1
- Square Footage: 112,800
- Price per Square Foot: $315
- Last Sale Price: $0 (01/04/2021)
The buyer in this transaction is David Levine, while the seller is Hillel Tropper.
New York 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93