Goose Property Management Acquires Development Site On Fulton Street For $24M
SOLD
$24,075,000
+ 3
New York
See Similar DealsMixed-use123,872 SF
Sold 02/02/2023
SOLD
Goose Property Management Acquires Development Site On Fulton Street For $24M
570 Fulton Street,Downtown Brooklyn,New York
See Similar DealsMixed-use123,872 SF
Sold 02/02/2023
+ 3
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$194
Total Square Footage:123,872 SF
Transaction Type:Sale
Goose Property Management has acquired a development site located at 570 Fulton Street in New York City. The property was sold by The Davis Companies in a closed transaction. The site spans 107,000 square feet and was sold for a total price of $24,075,000, resulting in a price per square foot of $225.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $24,075,000
- SF: 107,000
- PPSF: $225
The deal was facilitated by the broker team consisting of Stephen Palmese, Brendan Maddigan, Ethan Stanton, Michael Mazzara, Winfield Clifford, and Jay Leshinsky, all from JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,284,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,533.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$114,127.78
Annual Debt Service$1,369,533.39
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