Turnbridge Equities Acquires Industrial Property From Aaron Menche In Brooklyn For $29M
303 Louisiana Avenue
$29,000,000
$327/SF
Building Size
88,500 SF
Asset Type
Industrial
Closing
Dec 11, 2024
AI
The property involved in this transaction is an industrial asset located at 303 Louisiana Avenue in Brooklyn. The total sale price for the asset was $29,000,000, encompassing a square footage of 88,500, which equates to a price per square foot of $327.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $29,000,000
- Address: 303 Louisiana Avenue
- Market: Brooklyn
- Square Footage: 88,500
- Price per Square Foot: $327
- Buyer: Turnbridge Equities
- Seller: Aaron Menche
- Brokers: Avi Feinberg, Ron Godel & Sharone Levy - Greiner-Maltz Real Estate
Avi Feinberg, Ron Godel, and Sharone Levy represented the buyer, Turnbridge Equities, as brokers from Greiner-Maltz Real Estate, facilitating the details of the transaction between the involved parties.
Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93