Jason Anderson And Maximilian J. Seitz Of Tegern Capital Acquire Industrial Property In Brooklyn For $4.25M
415 Smith Street
$4,250,000
$337/SF
Building Size
12,600 SF
Asset Type
Industrial
Closing
Dec 3, 2024
AI
The industrial asset located at 415 Smith Street in Brooklyn has been sold for $4,250,000. The total square footage of the property is 12,600, yielding a price per square foot of $337. This site measures 63’ x 106’ and is situated in the Gowanus area of Brooklyn.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $4,250,000
- Buyer: Jason Anderson & Maximilian J. Seitz - Tegern Capital
- Seller: The Uchitel Family
- Brokers: DJ Johnston, Bobby Lawrence & Brock Emmetsberger - Matthews Real Estate Investment Services
- Square Footage: 12,600
- Price per Square Foot: $337
In addition, Andrew Marcus of Matthews Real Estate Investment Services’ debt origination team arranged an acquisition loan for the buyers. Tegern Capital, founded by Jason Anderson and Maximilian J. Seitz, aims to develop properties that positively impact the communities they serve.
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
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93