Goose Property Management Acquires Development Site On Fulton Street For $24M
570 Fulton Street,Downtown Brooklyn,New York
$24,075,000
$194/SF
Building Size
123,872 SF
Asset Type
Mixed-use
Closing
Feb 2, 2023
AI
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.
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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93