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David Levine Acquires Industrial Property In East New York, Brooklyn For $35.5M

Property Image
SOLD
$35,500,000

New York

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Industrial112,800 SF
Sold 12/07/2021
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Property Image
SOLD

David Levine Acquires Industrial Property In East New York, Brooklyn For $35.5M

906 Wortman Avenue, Brooklyn, New York 11207, United States

See Similar Deals
Industrial112,800 SF
Sold 12/07/2021
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$314
Total Square Footage:112,800 SF
Transaction Type:Sale

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.

Players

David Levine
Blackstone
David Levine
4 deals$789.8M volume(212) 390-2873
BROKER
David Levine
David Levine
4 deals$789.8M volume
BUYER

Details

SOLD
IMAGE: 12/07/2021 ADDRESS: 906 Wortman Avenue MARKET: East New York, Brooklyn ASSET TYPE: Industrial ~ ZONING: M1-1 BUYER: David Levine SELLER: Hillel Tropper PRICE: $35,500,000 SF: 112,800 ~ PPSF: $315 LAST SALE PRICE: $0 (01/04/2021)

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,893,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$126,124.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$168,288.11
Annual Debt Service$2,019,457.34