facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Mixed Use

/

Sale

/

452 Union Street, Brooklyn,...

Tankhouse Acquires Mixed-Use Property On Union Street In Gowanus For $40.65M
SOLDMixed-use

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

Sam Alison-Mayne

Tankhouse

Buyer

$138.4M

vol

5 deals

Buyer

Eric Schwartz

Pilot Real Estate Group

Seller

$157.5M

vol

4 deals

Seller

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

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