Tankhouse Acquires Mixed-Use Property On Union Street In Gowanus For $40.65M
452 Union Street, Brooklyn, New York 11231, United States
$40,650,000
$4,114/SF
Building Size
9,880 SF
Asset Type
Mixed-use
Closing
Sep 13, 2022
AI
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.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93