Tankhouse Acquires Mixed-Use Property On Union Street In Gowanus For $40.65M
SOLD
$40,650,000
New York
See Similar DealsMixed-use9,880 SF
Sold 09/14/2022
SOLD
Tankhouse Acquires Mixed-Use Property On Union Street In Gowanus For $40.65M
452 Union Street, Brooklyn, New York 11231, United States
See Similar DealsMixed-use9,880 SF
Sold 09/14/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$4,114
Total Square Footage:9,880 SF
Transaction Type:Sale
Located in Gowanus, the mixed-use property at 452 Union Street has recently changed hands in a sale. The transaction was completed on September 14, 2022, and the property was purchased by Tankhouse, represented by Sam Alison-Mayne. The seller was Pilot Real Estate Group, represented by Eric Schwartz. The sale price for the property was $40,650,000, with a total square footage of 9,880. This translates to a price per square foot of $4,114.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $40,650,000
- Address: 452 Union Street
- Market: Gowanus
The sale of 452 Union Street involved Tankhouse, represented by Sam Alison-Mayne, as the buyer. Pilot Real Estate Group, represented by Eric Schwartz, acted as the seller in the transaction. This deal highlights the successful collaboration between the buyer and seller, resulting in the transfer of ownership for this mixed-use property.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,167,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$144,420.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$192,701.74
Annual Debt Service$2,312,420.86
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